Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$88.00 Price Target at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target cut by TD Securities from C$90.00 to C$88.00 in a report released on Wednesday, BayStreet.CA reports.

A number of other analysts have also commented on the company. Desjardins boosted their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a buy rating in a research report on Friday, March 1st. Laurentian boosted their target price on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a buy rating in a research report on Monday, January 22nd. Royal Bank of Canada boosted their target price on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an outperform rating in a research report on Friday, March 1st. National Bankshares boosted their target price on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the company an outperform rating in a research report on Monday, January 29th. Finally, BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of C$87.33.

Granite Real Estate Investment Trust Stock Performance

Shares of Granite Real Estate Investment Trust stock opened at C$69.47 on Wednesday. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$85.00. The firm has a market capitalization of C$4.40 billion, a price-to-earnings ratio of 32.16 and a beta of 1.14. The business has a 50-day simple moving average of C$74.00 and a 200 day simple moving average of C$72.89. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were paid a $0.275 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.30 annualized dividend and a yield of 4.75%. Granite Real Estate Investment Trust’s payout ratio is 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.