Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$93.00 at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lifted by TD Securities from C$91.00 to C$93.00 in a research report released on Friday morning,BayStreet.CA reports.

Several other analysts also recently issued reports on GRT.UN. BMO Capital Markets increased their price target on Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a report on Monday, October 28th. 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 note on Wednesday, October 9th. Finally, Raymond James boosted their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$89.50.

Granite Real Estate Investment Trust Price Performance

Shares of TSE:GRT.UN traded up C$0.66 on Friday, hitting C$76.05. The company had a trading volume of 58,346 shares, compared to its average volume of 82,763. The business has a 50 day moving average of C$78.10 and a 200 day moving average of C$72.89. 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 company has a market cap of C$4.77 billion, a PE ratio of 20.95 and a beta of 1.18. Granite Real Estate Investment Trust has a 52-week low of C$63.07 and a 52-week high of C$82.88.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, August 30th. This represents a $3.30 annualized dividend and a dividend yield of 4.34%. Granite Real Estate Investment Trust’s dividend payout ratio is currently 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.