Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$89.72 Average Target Price 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 presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$89.72.

A number of equities research analysts have recently issued reports on GRT.UN shares. National Bankshares upped their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. BMO Capital Markets raised their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. TD Securities boosted their target price on 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 target on 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 Stock Up 1.1 %

Granite Real Estate Investment Trust stock opened at C$71.41 on Thursday. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. 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 simple moving average of C$75.19 and a 200 day simple moving average of C$73.69. The company has a market cap of C$4.48 billion, a P/E ratio of 19.67 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were given a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Wednesday, November 27th. Granite Real Estate Investment Trust’s dividend payout ratio is presently 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.