Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) has been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat reports. Five equity research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$96.88.
GRT.UN has been the subject of several recent analyst reports. Raymond James boosted their price objective on shares of Granite Real Estate Investment Trust from C$93.00 to C$95.00 and gave the company an “outperform” rating in a research note on Monday, March 13th. TD Securities upped their price target on shares of Granite Real Estate Investment Trust from C$95.00 to C$100.00 and gave the stock an “action list buy” rating in a report on Friday, March 10th. Canaccord Genuity Group upped their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$97.00 in a report on Friday, March 10th. Royal Bank of Canada upped their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$103.00 and gave the stock an “outperform” rating in a report on Friday, March 10th. Finally, Scotiabank raised their price target on Granite Real Estate Investment Trust from C$92.00 to C$94.00 in a report on Thursday, February 2nd.
Granite Real Estate Investment Trust Stock Performance
TSE GRT. UN opened at C$80.28 on Tuesday. The firm has a market cap of C$5.11 billion, a P/E ratio of 32.77 and a beta of 1.04. The company’s 50 day moving average is C$82.99 and its 200-day moving average is C$76.24. Granite Real Estate Investment Trust has a 12-month low of C$63.29 and a 12-month high of C$100.90. The company has a quick ratio of 1.61, a current ratio of 0.44 and a debt-to-equity ratio of 56.24.
Granite Real Estate Investment Trust Dividend Announcement
The firm also recently declared a monthly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 15th were given a dividend of $0.2667 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Monday, February 27th. Granite Real Estate Investment Trust’s payout ratio is 130.61%.
About Granite Real Estate Investment Trust
(Get Rating)
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.
Featured Articles
Receive News & Ratings for Granite Real Estate Investment Trust Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Granite Real Estate Investment Trust and related companies with MarketBeat.com’s FREE daily email newsletter.
