Analysts Set Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target at C$89.72

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$89.72.

Several research analysts have recently issued reports on GRT.UN shares. National Bankshares increased their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. Raymond James lifted their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. BMO Capital Markets upped their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. Finally, TD Securities lifted their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE GRT.UN opened at C$70.48 on Thursday. Granite Real Estate Investment Trust has a 12-month low of C$64.50 and a 12-month high of C$82.88. The company has a market cap of C$4.42 billion, a PE ratio of 19.42 and a beta of 1.18. The stock has a 50 day simple moving average of C$75.01 and a 200-day simple moving average of C$73.74. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a dividend of $0.275 per share. The ex-dividend date was Wednesday, November 27th. This represents a $3.30 annualized dividend and a dividend yield of 4.68%. Granite Real Estate Investment Trust’s dividend payout ratio is 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.