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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have earned a consensus recommendation of “Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$88.10.

GRT.UN has been the topic of a number of research reports. TD Securities boosted their price objective on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Raymond James lifted 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 Price Performance

Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$82.88. The firm has a market capitalization of C$5.02 billion, a price-to-earnings ratio of 22.06 and a beta of 1.17. The company’s 50 day moving average is C$76.29 and its 200 day moving average is C$72.69. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were issued a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a dividend yield of ∞. The ex-dividend date 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.