Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Average Recommendation of “Buy” from Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has earned a consensus recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$88.10.

A number of research firms have commented on GRT.UN. Raymond James raised their target price on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. TD Securities raised their target price on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a “buy” rating in a report on Wednesday, September 4th.

Granite Real Estate Investment Trust Price Performance

Shares of TSE GRT.UN opened at C$80.46 on Tuesday. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock has a fifty day moving average price of C$73.88 and a 200 day moving average price of C$72.06. Granite Real Estate Investment Trust has a 1-year low of C$62.72 and a 1-year high of C$81.06. The company has a market cap of C$5.05 billion, a PE ratio of 22.10 and a beta of 1.17.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a $0.275 dividend. This represents a $3.30 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) 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.