Granite Real Estate Investment Trust (TSE:GRT.UN) Given Average Recommendation of “Buy” by Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has received an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$89.72.

A number of analysts have recently weighed in on the company. National Bankshares increased their price target on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. TD Securities increased their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. Raymond James boosted their price target 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 increased their price objective 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 Price Performance

GRT.UN opened at C$71.18 on Thursday. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The company’s 50-day moving average price is C$75.73 and its 200 day moving average price is C$73.67. Granite Real Estate Investment Trust has a fifty-two week low of C$64.50 and a fifty-two week high of C$82.88. The firm has a market cap of C$4.47 billion, a price-to-earnings ratio of 19.61 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, December 16th. Stockholders of record on Monday, December 16th were paid a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Wednesday, November 27th. Granite Real Estate Investment Trust’s dividend payout ratio is currently 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.