Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Cut to C$88.00

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

GRT.UN has been the subject of a number of other reports. Laurentian lifted 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 report on Monday, January 22nd. National Bankshares lifted 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 report on Monday, January 29th. Raymond James lifted their target price on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a strong-buy rating in a report on Monday, January 8th. BMO Capital Markets lifted their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a report on Monday, March 4th. Finally, Royal Bank of Canada lifted 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 report on Friday, March 1st. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$87.33.

Granite Real Estate Investment Trust Trading Down 0.6 %

GRT.UN opened at C$69.24 on Wednesday. Granite Real Estate Investment Trust has a 52 week low of C$62.72 and a 52 week high of C$86.07. The business has a fifty day simple moving average of C$74.37 and a 200-day simple moving average of C$72.96. The firm has a market cap of C$4.39 billion, a P/E ratio of 32.06 and a beta of 1.14. 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 Announces Dividend

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

Granite Real Estate Investment Trust Company Profile

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.