Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$103.00 at TD

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective boosted by TD from C$101.00 to C$103.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. TD currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Canadian Imperial Bank of Commerce upped their price target on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Scotia lifted their price objective on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a research note on Friday, May 8th. Canaccord Genuity Group boosted their target price on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a report on Friday, May 8th. National Bank Financial boosted their target price on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Finally, Raymond James Financial increased their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Granite Real Estate Investment Trust presently has a consensus rating of “Buy” and an average target price of C$103.50.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN stock opened at C$92.00 on Friday. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The firm has a market capitalization of C$5.59 billion, a price-to-earnings ratio of 14.28 and a beta of 1.48. Granite Real Estate Investment Trust has a one year low of C$74.96 and a one year high of C$101.50. The company has a 50 day moving average price of C$96.04 and a 200 day moving average price of C$91.34.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share for the quarter. The company had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. Sell-side analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 14th will be paid a $0.2958 dividend. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 53.53%.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.