Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$87.70 Average Target Price from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given an average recommendation of “Buy” by the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$87.70.

Several analysts have recently commented on the stock. National Bankshares decreased their price target on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. TD Securities lowered their target price on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday, April 24th. Canaccord Genuity Group cut their price target on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research note on Friday, May 10th. Finally, CIBC lifted their price objective on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE:GRT.UN opened at C$68.05 on Thursday. The business has a fifty day moving average of C$68.41 and a 200-day moving average of C$72.61. The firm has a market cap of C$4.29 billion, a PE ratio of 19.96 and a beta of 1.16. The company has a debt-to-equity ratio of 58.04, a quick ratio of 1.61 and a current ratio of 0.45. Granite Real Estate Investment Trust has a twelve month low of C$62.72 and a twelve month high of C$80.81.

Granite Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, June 14th. Investors of record on Friday, June 14th were issued a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Friday, May 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 96.77%.

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.