Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Consensus Rating of “Buy” from Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given an average recommendation of “Buy” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$88.95.

Several analysts have commented on GRT.UN shares. National Bankshares lifted their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday. Raymond James raised their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. Finally, 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.

Granite Real Estate Investment Trust Trading Down 0.6 %

TSE GRT.UN opened at C$79.25 on Friday. The stock has a market capitalization of C$4.97 billion, a price-to-earnings ratio of 21.83 and a beta of 1.18. The business’s fifty day moving average is C$76.66 and its 200-day moving average is C$72.80. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$82.88.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, September 16th. Shareholders 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 annualized dividend and a dividend yield of 4.16%. Granite Real Estate Investment Trust’s dividend 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.