Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$89.28 Consensus Price Target from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$89.28.

Several analysts have commented on the stock. Raymond James lifted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. BMO Capital Markets lifted their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a report on Monday, October 28th. TD Securities increased their price objective on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, National Bankshares boosted their target price on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th.

Granite Real Estate Investment Trust Trading Down 1.9 %

TSE GRT.UN opened at C$74.54 on Wednesday. The business’s fifty day moving average is C$78.03 and its 200-day moving average is C$72.93. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock has a market capitalization of C$4.68 billion, a price-to-earnings ratio of 20.93 and a beta of 1.18. Granite Real Estate Investment Trust has a one year low of C$63.07 and a one year high of C$82.88.

Granite Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were issued a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Friday, August 30th. Granite Real Estate Investment Trust’s 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.