Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$89.72 Consensus PT from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have received an average rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$89.72.

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

Granite Real Estate Investment Trust Price Performance

Shares of TSE:GRT.UN opened at C$76.00 on Friday. The firm has a 50 day moving average of C$77.38 and a 200-day moving average of C$73.45. 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 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 capitalization of C$4.77 billion, a PE ratio of 20.94 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.30 annualized dividend and a dividend yield of 4.34%. Granite Real Estate Investment Trust’s dividend payout ratio is 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.