Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Consensus Recommendation of "Buy" from Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U has been given an average recommendation of "Buy" by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$89.72.

A number of brokerages have issued reports on GRT.UN. Raymond James raised their price objective 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 raised their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. National Bankshares raised their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Finally, BMO Capital Markets raised their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th.

Granite Real Estate Investment Trust Price Performance

Shares of GRT.UN traded up C$0.14 during mid-day trading on Friday, hitting C$73.93. 73,900 shares of the company traded hands, compared to its average volume of 82,642. Granite Real Estate Investment Trust has a one year low of C$64.50 and a one year high of C$82.88. 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 business has a 50-day moving average of C$77.76 and a 200 day moving average of C$73.24. The stock has a market capitalization of C$4.64 billion, a price-to-earnings ratio of 20.37 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were given a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Friday, August 30th. Granite Real Estate Investment Trust's dividend payout ratio (DPR) is 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.