Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$94.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target raised by TD Securities from C$88.00 to C$94.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Other analysts also recently issued reports about the company. National Bankshares upped their target price on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Desjardins boosted their price target on Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. BMO Capital Markets increased their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research note on Monday, November 10th. Raymond James Financial raised their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$93.00 in a report on Monday, November 10th. Finally, Royal Bank Of Canada upped their price target on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a report on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$89.00.

Granite Real Estate Investment Trust Trading Up 2.8%

Shares of GRT.UN stock opened at C$90.85 on Wednesday. The stock has a market cap of C$5.50 billion, a P/E ratio of 19.21 and a beta of 1.43. Granite Real Estate Investment Trust has a 1 year low of C$55.25 and a 1 year high of C$92.04. 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 50 day simple moving average of C$79.80 and a 200 day simple moving average of C$77.60.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were issued a $0.2833 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. Granite Real Estate Investment Trust’s dividend payout ratio is 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.