Analysts Set Granite Real Estate Investment Trust (TSE:GRT.UN) Target Price at C$89.72

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has earned an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$89.72.

Several research firms have recently commented on GRT.UN. BMO Capital Markets upped their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. National Bankshares raised their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. TD Securities upped their price target on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, Raymond James raised their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th.

Granite Real Estate Investment Trust Price Performance

Shares of TSE GRT.UN opened at C$74.63 on Friday. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The firm has a market cap of C$4.68 billion, a PE ratio of 20.56 and a beta of 1.18. Granite Real Estate Investment Trust has a 1-year low of C$64.50 and a 1-year high of C$82.88. The company has a fifty day moving average price of C$77.69 and a 200 day moving average price of C$73.29.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is 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.