Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$87.70 Average PT from Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given an average rating of “Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$87.70.

GRT.UN has been the topic of several research reports. Canaccord Genuity Group cut their price objective on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research note on Friday, May 10th. TD Securities dropped their price target on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research report on Wednesday, April 24th. National Bankshares decreased their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, CIBC increased their target price on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a report on Friday, May 10th.

Granite Real Estate Investment Trust Stock Performance

Shares of Granite Real Estate Investment Trust stock opened at C$68.05 on Thursday. The company has a debt-to-equity ratio of 58.04, a quick ratio of 1.61 and a current ratio of 0.45. Granite Real Estate Investment Trust has a 1 year low of C$62.72 and a 1 year high of C$80.81. The firm’s 50-day simple moving average is C$68.41 and its 200-day simple moving average is C$72.61. The firm has a market cap of C$4.29 billion, a PE ratio of 19.96 and a beta of 1.16.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were given a $0.275 dividend. This represents a $3.30 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Friday, May 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 96.77%.

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.