Granite Real Estate Investment Trust (TSE:GRT.UN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been assigned an average rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$99.64.

GRT.UN has been the topic of a number of analyst reports. TD Securities boosted their price objective on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research note on Friday, February 27th. BMO Capital Markets boosted their price objective on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research note on Friday, February 27th. Scotia boosted their price objective on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a research note on Friday, May 8th. TD boosted their price objective 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, May 8th. Finally, National Bank Financial boosted their price objective on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research note on Monday, April 20th.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN opened at C$94.48 on Tuesday. The firm has a market cap of C$5.74 billion, a PE ratio of 14.66 and a beta of 1.34. The stock’s fifty day moving average price is C$89.83 and its two-hundred day moving average price is C$85.84. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a 1 year low of C$68.02 and a 1 year high of C$97.34.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) 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 for the quarter. On average, equities research analysts forecast that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Dividend Announcement

The business 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. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. Granite Real Estate Investment Trust’s payout ratio is presently 53.53%.

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.