TD Securities Boosts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$91.00

Posted by Cindy Kellogue on Sep 8th, 2024

Granite Real Estate Investment Trust (TSE:GRT.UN – Free Report) (NASDAQ:GRP.U) had its price target lifted by TD Securities from C$87.00 to C$91.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other equities analysts have also issued reports on GRT.UN. CIBC raised their price target on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th. Canaccord Genuity Group cut their target price on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a report on Friday, May 10th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of C$88.10.

View Our Latest Stock Analysis on GRT.UN

Granite Real Estate Investment Trust Price Performance

The stock has a market capitalization of C$4.74 billion, a price-to-earnings ratio of 20.77 and a beta of 1.17. The company’s 50-day simple moving average is C$72.80 and its 200-day simple moving average is C$71.88. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 1 year low of C$62.72 and a 1 year high of C$80.14.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be paid a $0.275 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.30 annualized dividend and a yield of ∞. Granite Real Estate Investment Trust’s payout ratio is 90.66%.

About Granite Real Estate Investment Trust

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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.