Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) Target Price at C$89.72

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given a consensus rating of “Buy” by the six analysts that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$89.72.

GRT.UN has been the topic of several analyst reports. BMO Capital Markets boosted their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. National Bankshares upped their price target on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. TD Securities increased their price target on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. Finally, Raymond James lifted their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th.

Granite Real Estate Investment Trust Trading Up 1.1 %

GRT.UN opened at C$71.41 on Thursday. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. 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’s 50 day moving average price is C$75.19 and its two-hundred day moving average price is C$73.69. The firm has a market capitalization of C$4.48 billion, a price-to-earnings ratio of 19.67 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $3.30 annualized dividend and a dividend yield of 4.62%. Granite Real Estate Investment Trust’s payout ratio is 90.91%.

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.