Granite Real Estate Investment Trust (TSE:GRT.UN) Given Average Rating of “Buy” by Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has earned a consensus recommendation of “Buy” from the six research firms that are covering the firm, 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 1 year price target among brokerages that have issued a report on the stock in the last year is C$89.72.

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

Granite Real Estate Investment Trust Price Performance

Granite Real Estate Investment Trust has a 12-month low of C$64.50 and a 12-month high of C$82.88. The company’s 50-day simple moving average is C$77.49 and its 200 day simple moving average is C$73.38. The stock has a market capitalization of C$4.74 billion, a price-to-earnings ratio of 20.63 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 Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be paid a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a yield of ∞. The ex-dividend date 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.