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 received a consensus rating of “Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is C$103.50.

A number of equities analysts have issued reports on GRT.UN shares. Raymond James Financial decreased their price objective on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating for the company in a report 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 company a “buy” rating in a report on Friday, August 7th. Finally, Desjardins upped their target price on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a research report on Friday, August 7th.

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock opened at C$83.70 on Monday. The stock’s 50 day simple moving average is C$87.40 and its two-hundred day simple moving average is C$91.14. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a market cap of C$5.20 billion, a price-to-earnings ratio of 13.85 and a beta of 1.48. Granite Real Estate Investment Trust has a fifty-two week low of C$75.00 and a fifty-two week high of C$101.50.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its earnings results on Wednesday, August 5th. The company reported C$1.14 earnings per share for the quarter. The firm had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. As a group, analysts expect that Granite Real Estate Investment Trust will post 5.58 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 14th were paid a $0.2958 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, July 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 57.68%.

Granite Real Estate Investment Trust Company Profile

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.