Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$88.00 Price Target at Raymond James

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lowered by Raymond James from C$93.00 to C$88.00 in a research note published on Friday morning,BayStreet.CA reports.

GRT.UN has been the subject of several other research reports. Scotiabank decreased their price objective on Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a report on Friday. BMO Capital Markets upped their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. Finally, TD Securities upped their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN opened at C$66.56 on Friday. Granite Real Estate Investment Trust has a 12 month low of C$64.50 and a 12 month high of C$82.88. The stock has a fifty day moving average price of C$69.20 and a 200-day moving average price of C$73.66. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The firm has a market cap of C$4.18 billion, a PE ratio of 18.34 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 14th will be given a dividend of $0.2833 per share. This represents a $3.40 annualized dividend and a yield of 5.11%. The ex-dividend date is Friday, February 28th. Granite Real Estate Investment Trust’s dividend payout ratio is currently 90.91%.

About Granite Real Estate Investment Trust

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.