Granite Real Estate Investment Trust (TSE:GRT.UN) PT Lowered to C$85.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective reduced by National Bankshares from C$87.00 to C$85.00 in a report published on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Laurentian lifted their price target on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the stock a buy rating in a research note on Monday, January 22nd. TD Securities dropped their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday. Raymond James lifted their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a strong-buy rating in a research note on Monday, January 8th. Royal Bank of Canada lifted their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an outperform rating in a research note on Friday, March 1st. Finally, Desjardins lifted their target price on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a buy rating in a research note on Friday, March 1st. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of C$87.33.

Granite Real Estate Investment Trust Trading Up 1.2 %

Shares of Granite Real Estate Investment Trust stock opened at C$69.47 on Wednesday. The company’s fifty day simple moving average is C$74.00 and its 200-day simple moving average is C$72.89. The stock has a market capitalization of C$4.40 billion, a PE ratio of 32.16 and a beta of 1.14. Granite Real Estate Investment Trust has a 1-year low of C$62.72 and a 1-year high of C$85.00. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were paid a $0.275 dividend. This represents a $3.30 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Wednesday, March 27th. Granite Real Estate Investment Trust’s payout ratio is currently 152.78%.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.