Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$88.33 Average PT from Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been assigned an average rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$88.33.

A number of equities research analysts have commented on GRT.UN shares. Royal Bank of Canada increased their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Laurentian raised their price target on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Raymond James upped their price objective on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 8th. Desjardins raised their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, National Bankshares boosted their target price on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th.

Granite Real Estate Investment Trust Stock Performance

Shares of Granite Real Estate Investment Trust stock opened at C$69.00 on Friday. The business has a 50-day simple moving average of C$74.59 and a 200-day simple moving average of C$72.97. The company has a debt-to-equity ratio of 58.81, a quick ratio of 1.61 and a current ratio of 0.40. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$86.39. The company has a market cap of C$4.37 billion, a PE ratio of 31.94 and a beta of 1.14.

Granite Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were given a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a yield of 4.78%. The ex-dividend date was Wednesday, March 27th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 152.78%.

About Granite Real Estate Investment Trust

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.