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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$103.50.

GRT.UN has been the topic of several recent research reports. National Bank Financial increased their price objective on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Canadian Imperial Bank of Commerce upped their price target on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Desjardins upped their price target 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, August 7th. Raymond James Financial lowered their price target on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, TD lifted their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock a “buy” rating in a research note on Friday, August 7th.

Granite Real Estate Investment Trust Price Performance

Shares of TSE GRT.UN opened at C$91.13 on Friday. The firm has a market cap of C$5.66 billion, a P/E ratio of 15.07 and a beta of 1.48. The business’s 50 day moving average is C$95.62 and its 200-day moving average is C$91.44. 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$75.00 and a 1-year high of C$101.50.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings results 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 business had revenue of C$165.09 million during the quarter. Equities research analysts predict that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 14th were issued a dividend of $0.2958 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.9%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) 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.