Scotiabank Lowers Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$85.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target reduced by Scotiabank from C$87.00 to C$85.00 in a research note issued to investors on Friday,BayStreet.CA reports.

GRT.UN has been the topic of several other reports. TD Securities boosted their price objective 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 boosted their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th.

Granite Real Estate Investment Trust Price Performance

Shares of Granite Real Estate Investment Trust stock opened at C$66.56 on Friday. The stock’s 50-day simple moving average is C$69.20 and its 200-day simple moving average is C$73.66. Granite Real Estate Investment Trust has a 52 week low of C$64.50 and a 52 week high of C$82.88. The company has a market capitalization of C$4.18 billion, a price-to-earnings ratio of 18.34 and a beta of 1.18. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 14th will be given a $0.2833 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 5.11%. Granite Real Estate Investment Trust’s dividend 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.