Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$93.00 Price Target at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price boosted by TD Securities from C$91.00 to C$93.00 in a research note released on Friday morning,BayStreet.CA reports.

Other analysts have also issued research reports about the stock. National Bankshares raised their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. Raymond James raised their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Finally, BMO Capital Markets raised their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a report on Monday, October 28th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$89.50.

Granite Real Estate Investment Trust Stock Performance

TSE:GRT.UN opened at C$76.05 on Friday. Granite Real Estate Investment Trust has a 12-month low of C$63.07 and a 12-month high of C$82.88. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The firm has a market capitalization of C$4.77 billion, a PE ratio of 20.95 and a beta of 1.18. The firm has a 50-day moving average price of C$78.10 and a 200 day moving average price of C$72.89.

Granite Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were issued a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio is currently 90.91%.

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 143 investment properties representing approximately 62.9 million square feet of leasable area.