Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$93.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price raised by TD Securities from C$91.00 to C$93.00 in a research report released on Friday,BayStreet.CA reports.

GRT.UN has been the subject of a number of other reports. National Bankshares upped their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. BMO Capital Markets upped their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a report on Monday, October 28th. Finally, Raymond James upped their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$89.50.

Granite Real Estate Investment Trust Stock Up 0.9 %

GRT.UN stock opened at C$76.05 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. Granite Real Estate Investment Trust has a 52-week low of C$63.07 and a 52-week high of C$82.88. The company has a 50-day moving average of C$78.10 and a two-hundred day moving average of C$72.89. The stock has a market capitalization of C$4.77 billion, a price-to-earnings ratio of 20.95 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were paid a $0.275 dividend. This represents a $3.30 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, August 30th. Granite Real Estate Investment Trust’s payout ratio is presently 90.91%.

Granite Real Estate Investment Trust Company Profile

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.