Granite Real Estate Investment Trust (TSE:GRT.UN) Sets New 52-Week High – Here’s Why

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$88.06 and last traded at C$86.91, with a volume of 136288 shares. The stock had previously closed at C$87.14.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GRT.UN shares. Raymond James Financial boosted 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. BMO Capital Markets increased their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research report on Monday, November 10th. TD Securities raised their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$88.00 and gave the company a “buy” rating in a report on Friday, November 7th. Desjardins boosted their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Royal Bank Of Canada increased their target price on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a research report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$87.88.

Granite Real Estate Investment Trust Price Performance

The stock has a fifty day moving average of C$79.15 and a 200 day moving average of C$77.30. The stock has a market cap of C$5.27 billion, a price-to-earnings ratio of 18.38 and a beta of 1.43. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were paid a dividend of $0.2833 per share. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, October 31st. Granite Real Estate Investment Trust’s payout ratio is presently 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.