Granite Real Estate Investment Trust (TSE:GRT.UN) Hits New 52-Week High at $68.61

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$68.61 and last traded at C$68.46, with a volume of 15032 shares trading hands. The stock had previously closed at C$68.58.

Several analysts recently issued reports on GRT.UN shares. TD Securities lifted their target price on Granite Real Estate Investment Trust from C$72.00 to C$73.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity raised Granite Real Estate Investment Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from C$65.00 to C$70.00 in a research note on Wednesday, September 4th. Royal Bank of Canada lifted their target price on Granite Real Estate Investment Trust from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, CIBC lifted their target price on Granite Real Estate Investment Trust from C$70.00 to C$72.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Granite Real Estate Investment Trust has an average rating of “Buy” and an average target price of C$69.92.

The firm has a market cap of $3.71 billion and a PE ratio of 8.98. The firm has a fifty day simple moving average of C$65.54 and a two-hundred day simple moving average of C$62.92. The company has a debt-to-equity ratio of 44.07, a quick ratio of 5.76 and a current ratio of 6.40.

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a dividend of $0.233 per share. This represents a $2.80 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Wednesday, October 30th. Granite Real Estate Investment Trust’s dividend payout ratio is presently 36.68%.

Granite Real Estate Investment Trust Company Profile (TSE:GRT.UN)

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.

Further Reading: How Do I Invest in Dividend Stocks

Receive News & Ratings for Granite Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.