Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$101.00 at TD

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target lifted by TD from C$96.00 to C$101.00 in a report released on Friday,BayStreet.CA reports. TD currently has a buy rating on the stock.

GRT.UN has been the topic of several other research reports. Canaccord Genuity Group upped their target price on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a research report on Friday. Canadian Imperial Bank of Commerce boosted their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research report on Friday, February 27th. Scotia boosted their target price 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 report on Friday. BMO Capital Markets boosted their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research 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 boosted their target price for the company from C$93.00 to C$96.00 in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Granite Real Estate Investment Trust presently has an average rating of “Buy” and a consensus price target of C$99.64.

Granite Real Estate Investment Trust Price Performance

Shares of GRT.UN opened at C$93.47 on Friday. Granite Real Estate Investment Trust has a 1 year low of C$63.85 and a 1 year high of C$95.00. 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 company has a market capitalization of C$5.67 billion, a price-to-earnings ratio of 14.50 and a beta of 1.34. The business has a 50-day moving average of C$87.70 and a 200-day moving average of C$84.02.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share (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 during the quarter. As a group, equities research analysts anticipate 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. Investors of record on Wednesday, April 15th were given a $0.2958 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a c) annualized dividend and a yield of 3.8%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 53.53%.

Granite Real Estate Investment Trust News Summary

Here are the key news stories impacting Granite Real Estate Investment Trust this week:

• Positive Sentiment: Canadian Imperial Bank of Commerce lifted its price target on Granite Real Estate Investment Trust to C$105 from C$98, implying meaningful upside from current levels. BayStreet.CA
• Positive Sentiment: Raymond James raised its target to C$103 from C$101 and reiterated an outperform rating, reinforcing a bullish stance on the stock. BayStreet.CA
• Positive Sentiment: Canaccord Genuity increased its target to C$105 from C$100 and kept a buy rating, adding to the positive sentiment around the name. BayStreet.CA
• Positive Sentiment: TD also raised its target to C$101 from C$96 and maintained a buy rating, suggesting analysts see room for further gains. BayStreet.CA
• Positive Sentiment: Scotia boosted its target to C$105 from C$100 and kept a sector outperform rating, another signal of broad analyst confidence. Tickerreport.com
• Neutral Sentiment: The REIT’s latest quarterly results showed C$1.51 EPS on revenue of C$165.83 million, with a 42.5% net margin and 4.28% return on equity; the report was solid but did not include a major new operational surprise.

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.