Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$93.38 Average PT from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is C$93.38.

GRT.UN has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce boosted their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a report on Friday, February 27th. TD Securities increased their price target on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Raymond James Financial cut Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from C$93.00 to C$96.00 in a report on Wednesday, January 14th. BMO Capital Markets increased their target price on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research note on Friday, February 27th. Finally, Royal Bank Of Canada upped their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday, February 27th.

Granite Real Estate Investment Trust Stock Up 2.7%

Shares of Granite Real Estate Investment Trust stock opened at C$84.02 on Monday. The business has a fifty day simple moving average of C$86.68 and a 200 day simple moving average of C$81.84. The stock has a market cap of C$5.09 billion, a PE ratio of 14.87 and a beta of 1.23. 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$55.25 and a 12 month high of C$92.89.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its earnings results on Wednesday, February 25th. The company reported C$2.24 earnings per share (EPS) for the quarter. The company had revenue of C$161.76 million during the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. Research analysts predict that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th will be paid a $0.2958 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 4.2%. Granite Real Estate Investment Trust’s payout ratio is presently 60.40%.

Granite Real Estate Investment Trust Company Profile

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.