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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has earned a consensus rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$103.50.

GRT.UN has been the topic of a number of recent analyst reports. TD lifted their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Raymond James Financial decreased their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Canaccord Genuity Group raised their target price on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce boosted their price target on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. Finally, Scotia upped their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 8th.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN stock opened at C$90.97 on Friday. Granite Real Estate Investment Trust has a 12-month low of C$75.00 and a 12-month high of C$101.50. 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 firm has a market capitalization of C$5.65 billion, a price-to-earnings ratio of 15.05 and a beta of 1.48. The business has a 50 day simple moving average of C$95.23 and a 200 day simple moving average of C$91.57.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The firm had revenue of C$165.09 million for the quarter. On average, equities research analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 14th were issued a dividend of $0.2958 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a yield of 3.9%. Granite Real Estate Investment Trust’s payout ratio is presently 57.68%.

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.