Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$88.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price hoisted by BMO Capital Markets from C$86.00 to C$88.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

A number of other equities research analysts have also commented on GRT.UN. Raymond James upped their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. TD Securities upped their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. Finally, National Bankshares upped their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$89.72.

Granite Real Estate Investment Trust Trading Down 1.5 %

GRT.UN opened at C$75.09 on Monday. Granite Real Estate Investment Trust has a fifty-two week low of C$64.50 and a fifty-two week high of C$82.88. 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 firm has a market capitalization of C$4.71 billion, a price-to-earnings ratio of 20.69 and a beta of 1.18. The company’s 50 day moving average price is C$78.07 and its two-hundred day moving average price is C$72.99.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.39%. Granite Real Estate Investment Trust’s payout ratio is presently 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.