Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$89.72 Consensus Price Target from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U have received an average rating of "Buy" from the six analysts that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$89.72.

Several research analysts have recently issued reports on GRT.UN shares. TD Securities lifted their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. National Bankshares upped their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. Raymond James raised their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Finally, BMO Capital Markets upped their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th.

Granite Real Estate Investment Trust Trading Down 0.8 %

Granite Real Estate Investment Trust stock traded down C$0.55 during mid-day trading on Thursday, hitting C$70.63. The company's stock had a trading volume of 142,812 shares, compared to its average volume of 82,679. 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 company has a 50 day moving average of C$75.55 and a 200-day moving average of C$73.65. Granite Real Estate Investment Trust has a one year low of C$64.50 and a one year high of C$82.88. The stock has a market cap of C$4.43 billion, a PE ratio of 19.46 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a dividend of $0.275 per share. The ex-dividend date was Wednesday, November 27th. This represents a $3.30 dividend on an annualized basis and a yield of 4.67%. Granite Real Estate Investment Trust's payout ratio 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.