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 received an average rating of “Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$89.72.

Several equities analysts have recently issued reports on the company. National Bankshares increased their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. TD Securities boosted their price target on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. BMO Capital Markets raised their price target on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. Finally, Raymond James upped their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th.

Granite Real Estate Investment Trust Trading Up 0.2 %

Shares of TSE:GRT.UN opened at C$73.93 on Friday. Granite Real Estate Investment Trust has a fifty-two week low of C$64.50 and a fifty-two week high of C$82.88. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The company has a market cap of C$4.64 billion, a PE ratio of 20.37 and a beta of 1.18. The company’s 50-day moving average price is C$77.76 and its 200 day moving average price is C$73.24.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.46%. Granite Real Estate Investment Trust’s payout ratio is currently 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.