Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$89.72 Average Target Price from Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been assigned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$89.72.

A number of equities analysts have weighed in on the stock. National Bankshares raised their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. TD Securities raised their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. Finally, Raymond James lifted their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th.

Granite Real Estate Investment Trust Stock Performance

Shares of Granite Real Estate Investment Trust stock opened at C$74.63 on Friday. The business has a fifty day simple moving average of C$77.69 and a two-hundred day simple moving average of C$73.29. The firm has a market capitalization of C$4.68 billion, a P/E ratio of 20.56 and a beta of 1.18. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 12 month low of C$64.50 and a 12 month high of C$82.88.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a yield of 4.42%. The ex-dividend date is Wednesday, November 27th. Granite Real Estate Investment Trust’s dividend payout ratio is currently 90.91%.

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 143 investment properties representing approximately 62.9 million square feet of leasable area.