Granite Real Estate Investment Trust (TSE:GRT.UN) Given Consensus Recommendation of “Buy” by Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$89.28.

Several equities research analysts have commented on GRT.UN shares. BMO Capital Markets boosted their target price on shares of Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a research report on Monday, October 28th. Raymond James boosted their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. TD Securities boosted their price objective on shares of 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. Finally, National Bankshares boosted 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, October 9th.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN opened at C$75.27 on Wednesday. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a market capitalization of C$4.72 billion, a P/E ratio of 20.74 and a beta of 1.18. The company’s fifty day moving average is C$78.16 and its two-hundred day moving average is C$72.89. Granite Real Estate Investment Trust has a 1 year low of C$63.07 and a 1 year high of C$82.88.

Granite Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were paid a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio is currently 90.91%.

About Granite Real Estate Investment Trust

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.