Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) Target Price at C$89.28

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has earned an average recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$89.28.

A number of research analysts have weighed in on the company. TD Securities increased their price target on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. National Bankshares raised their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. Raymond James boosted their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. Finally, BMO Capital Markets increased their target price on Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a research note on Monday, October 28th.

Granite Real Estate Investment Trust Stock Down 1.9 %

GRT.UN opened at C$74.54 on Wednesday. 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 business has a 50 day moving average price of C$78.09 and a two-hundred day moving average price of C$72.92. Granite Real Estate Investment Trust has a 52 week low of C$63.07 and a 52 week high of C$82.88. The company has a market cap of C$4.68 billion, a PE ratio of 20.53 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently disclosed 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 was Friday, August 30th. This represents a $3.30 dividend on an annualized basis and a yield of 4.43%. Granite Real Estate Investment Trust’s dividend payout ratio is presently 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.