Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Increased to C$95.00 by Analysts at Raymond James

Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) had its price objective lifted by Raymond James from C$93.00 to C$95.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on GRT.UN. TD Securities lifted their price objective on shares of Granite Real Estate Investment Trust from C$95.00 to C$100.00 and gave the company an action list buy rating in a report on Friday. Canaccord Genuity Group lifted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$97.00 in a report on Friday. CIBC lifted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$95.00 and gave the company an outperform rating in a report on Friday. National Bankshares lifted their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 and gave the company an outperform rating in a report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$103.00 and gave the company an outperform rating in a report on Friday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Granite Real Estate Investment Trust presently has a consensus rating of Buy and a consensus price target of C$96.88.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE:GRT.UN opened at C$83.20 on Monday. The firm has a market cap of C$5.30 billion, a PE ratio of 9.30 and a beta of 1.04. The firm’s 50 day simple moving average is C$80.51 and its 200-day simple moving average is C$75.28. Granite Real Estate Investment Trust has a one year low of C$63.29 and a one year high of C$100.90. The company has a debt-to-equity ratio of 53.69, a quick ratio of 1.61 and a current ratio of 2.10.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 15th will be paid a $0.2667 dividend. The ex-dividend date is Monday, February 27th. This represents a $3.20 annualized dividend and a yield of 3.85%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 35.75%.

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 industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.