Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective raised by BMO Capital Markets from C$84.00 to C$86.00 in a research report report published on Monday, BayStreet.CA reports.

A number of other equities research analysts have also commented on the company. 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 increased their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. Finally, National Bankshares increased their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$89.28.

Granite Real Estate Investment Trust Trading Up 1.5 %

Shares of GRT.UN opened at C$77.05 on Monday. The stock has a market cap of C$4.83 billion, a PE ratio of 20.91 and a beta of 1.18. Granite Real Estate Investment Trust has a 1 year low of C$63.07 and a 1 year high of C$82.88. The stock has a 50 day simple moving average of C$77.83 and a 200-day simple moving average of C$72.91. 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 Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were paid a $0.275 dividend. This represents a $3.30 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Friday, August 30th. 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.