Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$88.10 Consensus Target Price from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given an average recommendation of “Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. Eight 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 target among brokerages that have issued ratings on the stock in the last year is C$88.10.

A number of brokerages have issued reports on GRT.UN. TD Securities increased their price target on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Raymond James lifted their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th.

Granite Real Estate Investment Trust Price Performance

Shares of TSE GRT.UN opened at C$79.24 on Tuesday. The company has a market cap of C$4.97 billion, a PE ratio of 21.77 and a beta of 1.17. 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 business has a 50-day simple moving average of C$73.41 and a two-hundred day simple moving average of C$71.99. Granite Real Estate Investment Trust has a fifty-two week low of C$62.72 and a fifty-two week high of C$80.14.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a $0.275 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.30 dividend on an annualized basis and a yield of 4.16%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 90.66%.

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.