Granite Real Estate Investment Trust (TSE:GRT.UN) Downgraded by Raymond James Financial to Outperform

Raymond James Financial downgraded shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) from a strong-buy rating to an outperform rating in a report published on Wednesday,BayStreet.CA reports. They currently have C$96.00 price objective on the stock, up from their prior price objective of C$93.00.

Other equities research analysts have also recently issued reports about the stock. TD Securities upped their price objective on shares of Granite Real Estate Investment Trust from C$88.00 to C$94.00 in a report on Wednesday. BMO Capital Markets boosted their price target on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research report on Monday, November 10th. National Bankshares increased their price objective on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Desjardins raised their price objective on Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Royal Bank Of Canada upped their target price on Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a research report on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$89.00.

Granite Real Estate Investment Trust Price Performance

Shares of GRT.UN opened at C$87.52 on Wednesday. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The firm has a market cap of C$5.30 billion, a PE ratio of 18.51 and a beta of 1.43. The firm’s 50 day moving average price is C$79.33 and its 200 day moving average price is C$77.37. Granite Real Estate Investment Trust has a twelve month low of C$55.25 and a twelve month high of C$88.06.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were issued a $0.2833 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 3.9%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 71.54%.

Granite Real Estate Investment Trust Company Profile

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.