Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target at C$88.33

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given a consensus rating of “Buy” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$88.33.

GRT.UN has been the topic of several research analyst reports. Royal Bank of Canada upped their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Laurentian upped their target price on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Raymond James upped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a “strong-buy” rating in a research note on Monday, January 8th. BMO Capital Markets upped their price target on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Finally, Desjardins upped their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a “buy” rating in a research report on Friday, March 1st.

Granite Real Estate Investment Trust Stock Performance

Shares of Granite Real Estate Investment Trust stock opened at C$69.17 on Friday. The stock has a market cap of C$4.38 billion, a price-to-earnings ratio of 32.02 and a beta of 1.14. The firm’s 50-day moving average is C$74.83 and its 200 day moving average is C$73.01. Granite Real Estate Investment Trust has a 1 year low of C$62.72 and a 1 year high of C$86.39. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were issued a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 152.78%.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.