Granite Real Estate Investment Trust (TSE:GRT.UN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is C$99.64.

Several research firms recently commented on GRT.UN. Canadian Imperial Bank of Commerce boosted their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research report on Friday, February 27th. Canaccord Genuity Group boosted their price objective 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 report on Friday, May 8th. TD upped their price objective on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, TD Securities upped their price objective on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research note on Friday, February 27th.

Granite Real Estate Investment Trust Price Performance

Granite Real Estate Investment Trust stock opened at C$96.96 on Tuesday. Granite Real Estate Investment Trust has a 52 week low of C$68.02 and a 52 week high of C$98.29. 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’s 50-day simple moving average is C$90.96 and its 200 day simple moving average is C$86.28. The firm has a market capitalization of C$5.89 billion, a PE ratio of 15.05 and a beta of 1.45.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 EPS for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The business had revenue of C$165.83 million for the quarter. On average, equities research analysts predict that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were given a dividend of $0.2958 per share. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 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.