Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$87.00 Price Target at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target reduced by TD Securities from C$88.00 to C$87.00 in a research report released on Friday, BayStreet.CA reports.

Several other analysts have also issued reports on GRT.UN. CIBC upped their target price on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research note on Friday, May 10th. National Bankshares decreased their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an outperform rating on the stock in a research report on Wednesday, April 24th. Finally, Canaccord Genuity Group reduced their price objective on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research note on Friday, May 10th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of C$87.60.

Granite Real Estate Investment Trust Price Performance

Shares of GRT.UN stock traded up C$0.59 during trading on Friday, hitting C$71.55. The company had a trading volume of 70,478 shares, compared to its average volume of 83,577. The stock’s 50-day moving average is C$69.97 and its two-hundred day moving average is C$71.94. The stock has a market capitalization of C$4.51 billion, a price-to-earnings ratio of 20.98 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 52 week low of C$62.72 and a 52 week high of C$80.14.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, June 14th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.61%. Granite Real Estate Investment Trust’s dividend payout ratio is currently 96.77%.

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.