Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$85.00 Price Target at Scotiabank

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target decreased by Scotiabank from C$87.00 to C$85.00 in a research note issued to investors on Friday,BayStreet.CA reports.

Other research analysts have also issued research reports about the company. TD Securities raised their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. 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.

Granite Real Estate Investment Trust Trading Up 0.2 %

GRT.UN opened at C$66.56 on Friday. The stock has a market cap of C$4.18 billion, a PE ratio of 18.34 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. The business has a 50 day moving average of C$69.20 and a 200-day moving average of C$73.66. Granite Real Estate Investment Trust has a 52 week low of C$64.50 and a 52 week high of C$82.88.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 14th will be issued a $0.2833 dividend. This represents a $3.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Friday, February 28th. Granite Real Estate Investment Trust’s payout ratio is currently 90.91%.

Granite Real Estate Investment Trust Company Profile

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.