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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has received a consensus rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$99.64.

Several equities research analysts have recently issued reports on GRT.UN shares. BMO Capital Markets lifted their target price on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th. TD boosted their target price on Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted their target price on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research report on Friday, February 27th. Scotia lifted their price target on shares of 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. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th.

Granite Real Estate Investment Trust Stock Performance

GRT.UN stock opened at C$96.42 on Friday. The company has a market cap of C$5.85 billion, a P/E ratio of 14.96 and a beta of 1.45. Granite Real Estate Investment Trust has a 1 year low of C$68.38 and a 1 year high of C$98.29. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock’s fifty day moving average price is C$93.54 and its 200-day moving average price is C$88.20.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its earnings results on Wednesday, May 6th. The company reported C$1.51 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 analysts forecast that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.2958 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. Granite Real Estate Investment Trust’s dividend payout ratio is presently 53.53%.

Granite Real Estate Investment Trust Company Profile

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.