Raymond James Boosts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$92.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target lifted by Raymond James from C$90.00 to C$92.00 in a research note released on Friday, BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th. CIBC lifted their price target on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th. Finally, TD Securities increased their price objective on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a buy rating in a research report on Wednesday, September 4th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Granite Real Estate Investment Trust currently has a consensus rating of Buy and a consensus target price of C$88.10.

Granite Real Estate Investment Trust Price Performance

Shares of TSE:GRT.UN opened at C$77.06 on Friday. The company has a 50 day moving average of C$72.99 and a 200 day moving average of C$71.92. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The stock has a market cap of C$4.83 billion, a P/E ratio of 21.17 and a beta of 1.17. Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$80.14.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, August 30th. Granite Real Estate Investment Trust’s payout ratio is 90.66%.

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.