Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$87.70 Consensus PT from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$87.70.

A number of analysts recently commented on the company. National Bankshares decreased their target price on Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Canaccord Genuity Group reduced their price target on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th. TD Securities dropped their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday, April 24th. BMO Capital Markets boosted their target price on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Finally, CIBC raised their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th.

Granite Real Estate Investment Trust Trading Up 0.2 %

GRT.UN opened at C$67.79 on Thursday. The company has a fifty day moving average price of C$68.50 and a two-hundred day moving average price of C$72.81. Granite Real Estate Investment Trust has a 1-year low of C$62.72 and a 1-year high of C$80.81. The company has a market cap of C$4.27 billion, a P/E ratio of 19.88 and a beta of 1.16. The company has a current ratio of 0.45, a quick ratio of 1.61 and a debt-to-equity ratio of 58.04.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were issued a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a yield of 4.87%. The ex-dividend date was Friday, May 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 96.77%.

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.