Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$88.00 Price Target at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price reduced by TD Securities from C$90.00 to C$88.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.

A number of other brokerages have also recently commented on GRT.UN. Desjardins lifted their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a buy rating in a report on Friday, March 1st. BMO Capital Markets boosted their price objective on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a report on Monday, March 4th. National Bankshares boosted their price objective on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the company an outperform rating in a report on Monday, January 29th. Laurentian boosted their price objective on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a buy rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada upped their target price on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an outperform rating in a report on Friday, March 1st. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Granite Real Estate Investment Trust presently has a consensus rating of Buy and a consensus price target of C$87.33.

Granite Real Estate Investment Trust Price Performance

Shares of Granite Real Estate Investment Trust stock opened at C$69.24 on Wednesday. The stock has a market cap of C$4.39 billion, a price-to-earnings ratio of 32.06 and a beta of 1.14. The company has a debt-to-equity ratio of 58.81, a quick ratio of 1.61 and a current ratio of 0.40. The stock has a 50 day moving average price of C$74.37 and a 200-day moving average price of C$72.96. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$86.07.

Granite Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were given a $0.275 dividend. This represents a $3.30 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. Granite Real Estate Investment Trust’s payout ratio is 152.78%.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.