Raymond James Financial Issues Positive Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lifted by Raymond James Financial from C$101.00 to C$103.00 in a research report released on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

GRT.UN has been the subject of a number of other research reports. TD boosted their target price on Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a research note on Friday. Scotia lifted their target price on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research note on Friday. BMO Capital Markets lifted their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research note on Friday, February 27th. Canaccord Genuity Group lifted their target price on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a research note on Friday. Finally, National Bank Financial lifted their target price on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Granite Real Estate Investment Trust presently has an average rating of “Buy” and a consensus price target of C$99.64.

Granite Real Estate Investment Trust Price Performance

Shares of Granite Real Estate Investment Trust stock opened at C$93.47 on Friday. Granite Real Estate Investment Trust has a 52-week low of C$63.85 and a 52-week high of C$95.00. The stock has a market capitalization of C$5.67 billion, a price-to-earnings ratio of 14.50 and a beta of 1.34. The company has a fifty day moving average of C$87.70 and a 200-day moving average of C$84.02. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The company had revenue of C$165.83 million during the quarter. Equities research analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were paid a dividend of $0.2958 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a c) annualized dividend and a yield of 3.8%. Granite Real Estate Investment Trust’s payout ratio is presently 53.53%.

Granite Real Estate Investment Trust News Summary

Here are the key news stories impacting Granite Real Estate Investment Trust this week:

• Positive Sentiment: Canadian Imperial Bank of Commerce lifted its price target on Granite Real Estate Investment Trust to C$105 from C$98, implying meaningful upside from current levels. BayStreet.CA
• Positive Sentiment: Raymond James raised its target to C$103 from C$101 and reiterated an outperform rating, reinforcing a bullish stance on the stock. BayStreet.CA
• Positive Sentiment: Canaccord Genuity increased its target to C$105 from C$100 and kept a buy rating, adding to the positive sentiment around the name. BayStreet.CA
• Positive Sentiment: TD also raised its target to C$101 from C$96 and maintained a buy rating, suggesting analysts see room for further gains. BayStreet.CA
• Positive Sentiment: Scotia boosted its target to C$105 from C$100 and kept a sector outperform rating, another signal of broad analyst confidence. Tickerreport.com
• Neutral Sentiment: The REIT’s latest quarterly results showed C$1.51 EPS on revenue of C$165.83 million, with a 42.5% net margin and 4.28% return on equity; the report was solid but did not include a major new operational surprise.

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 147 investment properties representing approximately 62.6 million square feet of leasable area.