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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given a consensus recommendation of “Buy” by the nine research firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$87.33.

GRT.UN has been the topic of several recent research reports. Desjardins upped their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a “buy” rating in a report on Friday, March 1st. TD Securities dropped their target price on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a report on Wednesday, April 24th. National Bankshares lowered their price objective on 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. BMO Capital Markets raised their price objective on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Finally, Laurentian boosted their target price on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a research note on Monday, January 22nd.

Granite Real Estate Investment Trust Stock Down 0.6 %

GRT.UN stock opened at C$69.49 on Wednesday. The company has a market capitalization of C$4.40 billion, a P/E ratio of 32.17 and a beta of 1.14. Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$83.90. The firm’s fifty day simple moving average is C$73.36 and its 200-day simple moving average is C$72.87. 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 Announces Dividend

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