Desjardins Trims Granite Real Estate Investment Trust (TSE:GRT.UN) Target Price to C$84.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lowered by Desjardins from C$85.00 to C$84.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

GRT.UN has been the topic of a number of other research reports. Raymond James reduced their price objective on Granite Real Estate Investment Trust from C$94.00 to C$90.00 and set a strong-buy rating on the stock in a research note on Monday, October 23rd. CIBC dropped their target price on Granite Real Estate Investment Trust from C$93.00 to C$84.00 and set an outperform rating for the company in a report on Friday, November 10th. BMO Capital Markets dropped their price objective on Granite Real Estate Investment Trust from C$91.00 to C$84.00 and set an outperform rating for the company in a report on Friday, October 20th. Scotiabank dropped their price objective on Granite Real Estate Investment Trust from C$91.00 to C$88.00 and set an outperform rating for the company in a report on Thursday, October 19th. Finally, National Bankshares dropped their price objective on Granite Real Estate Investment Trust from C$98.00 to C$90.00 in a report on Tuesday, July 18th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of C$88.33.

Granite Real Estate Investment Trust Trading Up 0.5 %

Shares of TSE:GRT.UN opened at C$68.75 on Monday. The stock has a market capitalization of C$4.38 billion, a price-to-earnings ratio of -32.13 and a beta of 1.09. The company has a debt-to-equity ratio of 57.73, a quick ratio of 1.61 and a current ratio of 0.30. The stock’s 50-day simple moving average is C$70.07 and its two-hundred day simple moving average is C$75.40. Granite Real Estate Investment Trust has a 52-week low of C$62.72 and a 52-week high of C$88.58.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 15th were given a $0.2667 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Wednesday, August 30th. Granite Real Estate Investment Trust’s payout ratio is -149.53%.

About Granite Real Estate Investment Trust

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.