Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) has earned an average recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$87.70.
Several equities analysts have recently weighed in on GRT.UN shares. National Bankshares decreased their price objective on Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. CIBC raised their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th. Royal Bank of Canada raised their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. TD Securities dropped their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research report on Wednesday, April 24th. Finally, Canaccord Genuity Group dropped their price target on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th.
Read Our Latest Stock Report on Granite Real Estate Investment Trust
Granite Real Estate Investment Trust Stock Performance
Shares of Granite Real Estate Investment Trust stock opened at C$67.42 on Friday. The company has a market capitalization of C$4.25 billion, a PE ratio of 19.77 and a beta of 1.16. Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$83.90. The company has a current ratio of 0.45, a quick ratio of 1.61 and a debt-to-equity ratio of 58.04. The stock’s fifty day simple moving average is C$71.44 and its 200 day simple moving average is C$73.23.
Granite Real Estate Investment Trust Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, June 14th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, May 31st. This represents a $3.30 dividend on an annualized basis and a yield of 4.89%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 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.
Featured Stories
Receive News & Ratings for Granite Real Estate Investment Trust Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Granite Real Estate Investment Trust and related companies with MarketBeat.com’s FREE daily email newsletter.