Granite Real Estate Investment Trust (TSE:GRT.UN) Given Average Rating of “Buy” by Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$87.70.

Several equities analysts recently weighed in on GRT.UN shares. TD Securities cut their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a report on Wednesday, April 24th. Canaccord Genuity Group cut their price target on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research note on Friday, May 10th. CIBC lifted their price objective on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research note on Friday, May 10th. Finally, National Bankshares dropped their price objective on Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th.

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock opened at C$73.51 on Monday. The company has a market cap of C$4.63 billion, a PE ratio of 21.56 and a beta of 1.16. The company has a current ratio of 0.45, a quick ratio of 1.61 and a debt-to-equity ratio of 58.04. Granite Real Estate Investment Trust has a 1 year low of C$62.72 and a 1 year high of C$80.81. The company’s 50-day moving average is C$69.04 and its two-hundred day moving average is C$72.17.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, June 14th were paid a $0.275 dividend. The ex-dividend date was Friday, May 31st. This represents a $3.30 dividend on an annualized basis and a yield of 4.49%. Granite Real Estate Investment Trust’s payout ratio is 96.77%.

About Granite Real Estate Investment Trust

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 143 investment properties representing approximately 62.9 million square feet of leasable area.