Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Lowered to C$85.00 at National Bankshares

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target cut by National Bankshares from C$87.00 to C$85.00 in a research report released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets boosted their price target on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Royal Bank of Canada boosted their price target on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an outperform rating in a research note on Friday, March 1st. TD Securities cut their price target on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday. Desjardins boosted their price target on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a buy rating in a research note on Friday, March 1st. Finally, Raymond James boosted their price target on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a strong-buy rating in a research note on Monday, January 8th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Granite Real Estate Investment Trust has an average rating of Buy and an average target price of C$87.33.

Granite Real Estate Investment Trust Trading Down 0.6 %

Shares of TSE:GRT.UN opened at C$69.24 on Wednesday. Granite Real Estate Investment Trust has a 12-month low of C$62.72 and a 12-month high of C$86.07. The stock has a market cap of C$4.39 billion, a PE ratio of 32.06 and a beta of 1.14. The business has a 50 day moving average of C$74.37 and a 200-day moving average of C$72.96. The company has a quick ratio of 1.61, a current ratio of 0.40 and a debt-to-equity ratio of 58.81.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.77%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 152.78%.

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.