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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) have been assigned a consensus recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month objective price among brokerages that have issued a report on the stock in the last year is C$98.86.

Several research analysts have commented on GRT.UN shares. Raymond James cut their price target on shares of Granite Real Estate Investment Trust from C$112.00 to C$98.00 and set an “outperform” rating for the company in a report on Monday, August 15th. Scotiabank decreased their target price on Granite Real Estate Investment Trust from C$110.00 to C$97.00 in a research note on Thursday, July 21st. National Bankshares boosted their price objective on Granite Real Estate Investment Trust from C$85.00 to C$90.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Royal Bank of Canada raised their target price on shares in Granite Real Estate Investment Trust from C$99.00 to C$100.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Finally, TD Securities cut their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$94.00 and set an “action list buy” rating for the company in a research note on Thursday.

Granite Real Estate Investment Trust Trading Up 2.0%

TSE:GRT.UN opened at C$66.06 on Friday. Granite Real Estate Investment Trust has a 1 year low of C$63.29 and a 1 year high of C$105.79. The stock’s fifty day moving average price is C$72.34 and its two-hundred day moving average price is C$80.92. The company has a debt-to-equity ratio of 48.12, a current ratio of 2.36 and a quick ratio of 1.07. The company has a market cap of C$4.32 billion and a P/E ratio of 3.92.

Granite Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.2583 per share. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Tuesday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 18.41%.

About Granite Real Estate Investment Trust

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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.

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