Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Has Average Target Price of C$103.50

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have earned an average recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have covered the stock in the last year is C$103.50.

GRT.UN has been the topic of a number of research analyst reports. Desjardins increased their price objective on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the company a “buy” rating in a research note on Friday, August 7th. TD boosted their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Raymond James Financial cut their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN opened at C$83.01 on Monday. The firm has a market cap of C$5.15 billion, a price-to-earnings ratio of 13.73 and a beta of 1.48. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The business’s 50 day moving average is C$87.91 and its two-hundred day moving average is C$91.10. Granite Real Estate Investment Trust has a 52-week low of C$75.00 and a 52-week high of C$101.50.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$1.14 earnings per share for the quarter. The business had revenue of C$165.09 million during the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. Analysts forecast that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

Granite Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 14th were issued a $0.2958 dividend. This represents a $3.55 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, July 31st. Granite Real Estate Investment Trust’s payout ratio is currently 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.