Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target at C$89.72

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given an average rating of “Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$89.72.

Several research firms recently commented on GRT.UN. TD Securities boosted their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. National Bankshares upped their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. Raymond James increased their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Finally, BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th.

Granite Real Estate Investment Trust Stock Performance

GRT.UN stock opened at C$76.00 on Friday. Granite Real Estate Investment Trust has a 1-year low of C$64.50 and a 1-year high of C$82.88. The business’s 50-day moving average price is C$77.38 and its two-hundred day moving average price is C$73.45. The firm has a market cap of C$4.77 billion, a PE ratio of 20.94 and a beta of 1.18. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be issued a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Wednesday, November 27th. Granite Real Estate Investment Trust’s payout ratio is 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.