Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) PT at C$87.70

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has received a consensus rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$87.70.

Several equities research analysts have recently commented on GRT.UN shares. BMO Capital Markets upped their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a report on Monday, March 4th. Canaccord Genuity Group decreased their target price on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a report on Friday, May 10th. TD Securities cut their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a report on Wednesday, April 24th. National Bankshares reduced their price target on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, CIBC lifted their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th.

Granite Real Estate Investment Trust Trading Down 0.2 %

Shares of GRT.UN stock opened at C$67.79 on Thursday. The stock has a 50-day simple moving average of C$68.47 and a 200 day simple moving average of C$72.71. The stock has a market capitalization of C$4.27 billion, a P/E ratio of 19.88 and a beta of 1.16. Granite Real Estate Investment Trust has a fifty-two week low of C$62.72 and a fifty-two week high of C$80.81. The company has a quick ratio of 1.61, a current ratio of 0.45 and a debt-to-equity ratio of 58.04.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were given a $0.275 dividend. This represents a $3.30 annualized dividend and a yield of 4.87%. The ex-dividend date was Friday, May 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 96.77%.

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.