Analysts Set Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target at C$93.38

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given an average rating of “Buy” by the six analysts that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is C$93.38.

Several analysts recently issued reports on the company. BMO Capital Markets raised their target price on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research note on Friday, February 27th. TD Securities increased their target price 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. Royal Bank Of Canada boosted their price target on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a report on Friday, February 27th. Finally, Raymond James Financial downgraded shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from C$93.00 to C$96.00 in a research report on Wednesday, January 14th.

Granite Real Estate Investment Trust Price Performance

GRT.UN opened at C$85.14 on Monday. The stock has a 50-day moving average price of C$86.56 and a 200-day moving average price of C$81.92. Granite Real Estate Investment Trust has a 12-month low of C$55.25 and a 12-month high of C$92.89. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The stock has a market capitalization of C$5.16 billion, a P/E ratio of 15.07 and a beta of 1.23.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings data on Wednesday, February 25th. The company reported C$2.24 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 company had revenue of C$161.76 million for the quarter. Equities analysts predict that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.2958 per share. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, March 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 60.40%.

Granite Real Estate Investment Trust Company Profile

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.