Granite Real Estate Investment Trust (TSE:GRT.UN) Hits New 52-Week High – Time to Buy?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) shares reached a new 52-week high on Friday . The company traded as high as C$98.10 and last traded at C$98.10, with a volume of 76050 shares changing hands. The stock had previously closed at C$95.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GRT.UN shares. National Bank Financial increased their price target on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Royal Bank Of Canada increased their price target on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research note on Friday, February 27th. Scotia increased their price target 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. TD increased their price target on Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Raymond James Financial increased their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$99.64.

Granite Real Estate Investment Trust Trading Up 1.9%

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 has a market cap of C$5.91 billion, a P/E ratio of 15.09 and a beta of 1.34. The business has a 50 day moving average of C$90.66 and a two-hundred day moving average of C$86.20.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share for the quarter. The firm had revenue of C$165.83 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. Analysts predict that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current year.

Granite Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.2958 per share. The ex-dividend date was Tuesday, March 31st. This represents a c) annualized dividend and a yield of 3.6%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 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.