Granite Real Estate Investment Trust (TSE:GRT.UN) Sets New 1-Year High on Analyst Upgrade

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price reached a new 52-week high on Wednesday after TD Securities raised their price target on the stock from C$88.00 to C$94.00. The company traded as high as C$88.06 and last traded at C$86.91, with a volume of 136288 shares changing hands. The stock had previously closed at C$87.14.

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

Granite Real Estate Investment Trust Price Performance

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 cap of C$5.36 billion, a PE ratio of 18.69 and a beta of 1.43. The business has a 50-day moving average price of C$79.54 and a 200 day moving average price of C$77.45.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were issued a dividend of $0.2833 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) annualized dividend and a yield of 3.8%. Granite Real Estate Investment Trust’s dividend payout ratio is 71.54%.

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.