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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has received a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$89.00.

GRT.UN has been the topic of a number of recent analyst reports. TD Securities raised their price target on shares of Granite Real Estate Investment Trust from C$88.00 to C$94.00 in a report on Wednesday. Desjardins increased their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Raymond James Financial lowered shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from C$93.00 to C$96.00 in a report on Wednesday. National Bankshares upped their price target on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, BMO Capital Markets raised their price objective on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research report on Monday, November 10th.

Granite Real Estate Investment Trust Stock Performance

GRT.UN stock remained flat at C$86.91 during trading on Wednesday. The company had a trading volume of 41,307 shares, compared to its average volume of 83,214. Granite Real Estate Investment Trust has a 12 month low of C$55.25 and a 12 month high of C$88.06. The company’s 50 day moving average price is C$79.15 and its 200 day moving average price is C$77.30. The company has a market capitalization of C$5.27 billion, a P/E ratio of 18.38 and a beta of 1.43. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were paid a dividend of $0.2833 per share. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. Granite Real Estate Investment Trust’s payout ratio is presently 71.54%.

About Granite Real Estate Investment Trust

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.