Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Average Rating of “Buy” from Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given an average rating of “Buy” by the eight brokerages that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$87.60.

A number of research firms have weighed in on GRT.UN. Canaccord Genuity Group reduced their price target on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th. TD Securities reduced their target price on shares of Granite Real Estate Investment Trust from C$88.00 to C$87.00 in a report on Friday, August 9th. CIBC lifted their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research note on Friday, May 10th. Finally, National Bankshares cut their price target on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th.

Granite Real Estate Investment Trust Trading Up 0.6 %

TSE GRT.UN opened at C$71.53 on Friday. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock’s 50-day moving average is C$70.49 and its 200-day moving average is C$71.78. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$80.14. The firm has a market cap of C$4.51 billion, a P/E ratio of 20.98 and a beta of 1.16.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, June 14th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, May 31st. This represents a $3.30 annualized dividend and a dividend yield of 4.61%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 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.