Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$97.63 Consensus Price Target from Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) has received an average rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$97.63.

Several equities analysts have recently issued reports on GRT.UN shares. Canaccord Genuity Group lifted their price objective on Granite Real Estate Investment Trust from C$90.00 to C$97.00 in a research note on Friday, March 10th. Scotiabank raised their target price on Granite Real Estate Investment Trust from C$92.00 to C$94.00 in a research report on Thursday, February 2nd. BMO Capital Markets set a C$98.00 target price on Granite Real Estate Investment Trust and gave the stock an “outperform” rating in a research report on Monday, February 13th. Raymond James raised their target price on Granite Real Estate Investment Trust from C$95.00 to C$96.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 16th. Finally, CIBC lifted their price target on Granite Real Estate Investment Trust from C$90.00 to C$95.00 and gave the stock an “outperform” rating in a research report on Friday, March 10th.

Granite Real Estate Investment Trust Stock Performance

TSE GRT.UN opened at C$80.10 on Wednesday. The stock has a market cap of C$5.11 billion, a PE ratio of -16.08 and a beta of 1.04. The company has a current ratio of 0.26, a quick ratio of 1.61 and a debt-to-equity ratio of 56.61. Granite Real Estate Investment Trust has a twelve month low of C$63.29 and a twelve month high of C$92.43. The stock has a fifty day simple moving average of C$82.08 and a 200-day simple moving average of C$79.75.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 15th were paid a dividend of $0.2667 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Monday, February 27th. Granite Real Estate Investment Trust’s dividend payout ratio is presently -64.26%.

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.