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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has received a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$89.72.

Several research firms have recently weighed in on GRT.UN. National Bankshares lifted 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. TD Securities boosted their price target on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. BMO Capital Markets raised their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. Finally, 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.

Granite Real Estate Investment Trust Trading Up 1.1 %

GRT.UN opened at C$71.29 on Thursday. The stock has a market cap of C$4.47 billion, a PE ratio of 19.64 and a beta of 1.18. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a twelve month low of C$64.50 and a twelve month high of C$82.88. The company has a fifty day moving average of C$74.90 and a 200-day moving average of C$73.72.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Wednesday, November 27th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 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.