Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$105.00 Price Target at Canaccord Genuity Group

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price boosted by Canaccord Genuity Group from C$100.00 to C$105.00 in a report issued on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on GRT.UN. Canadian Imperial Bank of Commerce lifted their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research note on Friday, February 27th. TD Securities lifted their price target on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada raised their price objective on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research note on Friday, February 27th. BMO Capital Markets upped their target price on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research report on Friday, February 27th. Finally, Raymond James Financial cut Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and increased their target price for the company from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$99.64.

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock opened at C$93.47 on Friday. The stock’s 50 day moving average price is C$87.70 and its 200 day moving average price is C$84.02. The firm has a market capitalization of C$5.67 billion, a PE ratio of 14.50 and a beta of 1.34. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. Granite Real Estate Investment Trust has a one year low of C$63.85 and a one year high of C$95.00.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share (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 firm had revenue of C$165.83 million for the quarter. As a group, sell-side analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

Granite Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.2958 per share. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, March 31st. Granite Real Estate Investment Trust’s dividend payout ratio is 53.53%.

Key Granite Real Estate Investment Trust News

Here are the key news stories impacting Granite Real Estate Investment Trust this week:

• Positive Sentiment: Canadian Imperial Bank of Commerce lifted its price target on Granite Real Estate Investment Trust to C$105 from C$98, implying meaningful upside from current levels. BayStreet.CA
• Positive Sentiment: Raymond James raised its target to C$103 from C$101 and reiterated an outperform rating, reinforcing a bullish stance on the stock. BayStreet.CA
• Positive Sentiment: Canaccord Genuity increased its target to C$105 from C$100 and kept a buy rating, adding to the positive sentiment around the name. BayStreet.CA
• Positive Sentiment: TD also raised its target to C$101 from C$96 and maintained a buy rating, suggesting analysts see room for further gains. BayStreet.CA
• Positive Sentiment: Scotia boosted its target to C$105 from C$100 and kept a sector outperform rating, another signal of broad analyst confidence. Tickerreport.com
• Neutral Sentiment: The REIT’s latest quarterly results showed C$1.51 EPS on revenue of C$165.83 million, with a 42.5% net margin and 4.28% return on equity; the report was solid but did not include a major new operational surprise.

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.