National Bankshares Boosts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$93.50

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lifted by National Bankshares from C$85.00 to C$93.50 in a report issued on Wednesday, BayStreet.CA reports.

Several other brokerages also recently weighed in on GRT.UN. Raymond James upped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. TD Securities upped their price target on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a buy rating in a report on Wednesday, September 4th. Eight 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 currently has an average rating of Buy and a consensus target price of C$88.95.

Granite Real Estate Investment Trust Price Performance

GRT.UN opened at C$77.00 on Wednesday. The company has a market cap of C$4.83 billion, a P/E ratio of 21.21 and a beta of 1.18. The company has a 50 day moving average of C$76.78 and a two-hundred day moving average of C$72.86. 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 has a 52-week low of C$62.72 and a 52-week high of C$82.88.

Granite Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.29%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) 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.