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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U have been given an average rating of "Buy" by the eight ratings firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$89.28.

Several research firms recently commented on GRT.UN. TD Securities boosted their target price on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. 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. BMO Capital Markets boosted their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a report on Monday. Finally, National Bankshares increased their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th.

Granite Real Estate Investment Trust Trading Up 1.5 %

Granite Real Estate Investment Trust stock traded up C$1.15 during midday trading on Wednesday, reaching C$77.05. 79,939 shares of the stock traded hands, compared to its average volume of 82,444. 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$4.83 billion, a PE ratio of 20.91 and a beta of 1.18. The company has a 50-day simple moving average of C$77.83 and a two-hundred day simple moving average of C$72.91. Granite Real Estate Investment Trust has a 12-month low of C$63.07 and a 12-month high of C$82.88.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given 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 yield of 4.28%. Granite Real Estate Investment Trust's dividend payout ratio (DPR) is 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.