Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$91.00 at TD Securities

Posted by Thomas Dobrow on Sep 7th, 2024

Granite Real Estate Investment Trust (TSE:GRT.UN – Free Report) (NASDAQ:GRP.U) had its price target upped by TD Securities from C$87.00 to C$91.00 in a research note published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group decreased their price objective on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th. CIBC increased their price target on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a report on Friday, May 10th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of C$88.10.

Read Our Latest Stock Analysis on GRT.UN

Granite Real Estate Investment Trust Stock Performance

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 12 month low of C$62.72 and a 12 month high of C$80.14. The business’s fifty day simple moving average is C$72.80 and its 200-day simple moving average is C$71.88. The firm has a market capitalization of C$4.74 billion, a P/E ratio of 20.77 and a beta of 1.17.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be issued a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a yield of ∞. The ex-dividend date is Friday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio is presently 90.66%.

About Granite Real Estate Investment Trust

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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.