Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Consensus Rating of “Buy” from Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has received an average rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$87.70.

A number of research firms have weighed in on GRT.UN. National Bankshares reduced their price target on Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Canaccord Genuity Group decreased their target price on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th. CIBC boosted their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th. Finally, TD Securities reduced their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday, April 24th.

Granite Real Estate Investment Trust Stock Up 0.1 %

Shares of GRT.UN stock opened at C$73.51 on Monday. Granite Real Estate Investment Trust has a 12-month low of C$62.72 and a 12-month high of C$80.81. The company has a quick ratio of 1.61, a current ratio of 0.45 and a debt-to-equity ratio of 58.04. The firm has a fifty day moving average of C$69.04 and a 200-day moving average of C$72.17. The company has a market capitalization of C$4.63 billion, a price-to-earnings ratio of 21.56 and a beta of 1.16.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, June 14th. Investors 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 annualized dividend and a yield of 4.49%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 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.