Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$106.00 Price Target at Raymond James Financial

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective cut by Raymond James Financial from C$110.00 to C$106.00 in a report issued on Friday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently commented on GRT.UN. TD boosted their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research note on Friday. Scotia raised their price objective 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, May 8th. Desjardins lifted their target price 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. Canadian Imperial Bank of Commerce boosted their target price on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. Finally, Canaccord Genuity Group increased their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$103.50.

Granite Real Estate Investment Trust Trading Up 0.1%

TSE GRT.UN opened at C$92.00 on Friday. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 1-year low of C$74.96 and a 1-year high of C$101.50. The firm’s fifty day simple moving average is C$96.04 and its 200-day simple moving average is C$91.34. The company has a market capitalization of C$5.59 billion, a PE ratio of 14.28 and a beta of 1.48.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings data on Wednesday, August 5th. The company reported C$1.16 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 firm had revenue of C$165.09 million during the quarter. As a group, sell-side analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.2958 per share. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, July 31st. Granite Real Estate Investment Trust’s dividend payout ratio is 53.53%.

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.