Raymond James Issues Pessimistic Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price decreased by Raymond James from C$93.00 to C$88.00 in a report published on Friday,BayStreet.CA reports.

A number of other research analysts have also weighed in on GRT.UN. Scotiabank decreased their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research note on Friday. TD Securities lifted their target price on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, BMO Capital Markets lifted their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th.

Granite Real Estate Investment Trust Trading Up 0.2 %

Shares of Granite Real Estate Investment Trust stock opened at C$66.56 on Friday. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The firm’s 50-day moving average price is C$69.20 and its 200 day moving average price is C$73.66. Granite Real Estate Investment Trust has a twelve month low of C$64.50 and a twelve month high of C$82.88. The firm has a market capitalization of C$4.18 billion, a PE ratio of 18.34 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 14th will be paid a $0.2833 dividend. The ex-dividend date is Friday, February 28th. This represents a $3.40 annualized dividend and a dividend yield of 5.11%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 90.91%.

About Granite Real Estate Investment Trust

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.