Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target at C$87.60

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$87.60.

GRT.UN has been the topic of several research reports. TD Securities dropped their target price on Granite Real Estate Investment Trust from C$88.00 to C$87.00 in a research report on Friday, August 9th. CIBC boosted their target price on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th. Finally, Canaccord Genuity Group decreased their price target on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE GRT.UN opened at C$73.68 on Friday. The firm’s 50-day moving average price is C$70.71 and its 200-day moving average price is C$71.78. Granite Real Estate Investment Trust has a 52-week low of C$62.72 and a 52-week high of C$80.14. The company has a market cap of C$4.62 billion, a PE ratio of 20.30 and a beta of 1.17. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, June 14th. Investors of record on Friday, June 14th were given a $0.275 dividend. This represents a $3.30 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Friday, May 31st. Granite Real Estate Investment Trust’s dividend 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.