Granite Real Estate Investment Trust (TSE:GRT.UN) Sets New 52-Week High at $80.15

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U hit a new 52-week high on Friday . The company traded as high as C$80.15 and last traded at C$80.07, with a volume of 10348 shares traded. The stock had previously closed at C$79.24.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GRT.UN shares. TD Securities lifted their price target on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Raymond James lifted their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Granite Real Estate Investment Trust has a consensus rating of "Buy" and a consensus target price of C$88.10.

Granite Real Estate Investment Trust Stock Performance

The company has a market cap of C$5.05 billion, a PE ratio of 22.13 and a beta of 1.17. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The business has a 50-day moving average of C$73.63 and a 200 day moving average of C$72.02.

Granite Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, August 30th. Granite Real Estate Investment Trust's dividend payout ratio is presently 90.66%.

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.