Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Increased to C$67.00 by Analysts at Royal Bank of Canada

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Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective increased by Royal Bank of Canada from C$66.00 to C$67.00 in a research note published on Friday morning, BayStreet.CA reports.

GRT.UN has been the subject of a number of other reports. TD Securities dropped their price objective on shares of Granite Real Estate Investment Trust from C$72.00 to C$71.00 and set a buy rating for the company in a research note on Friday. Desjardins raised their target price on shares of Granite Real Estate Investment Trust from C$64.00 to C$65.00 in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of C$68.30.

Shares of GRT.UN opened at C$61.93 on Friday. The company has a debt-to-equity ratio of 50.15, a quick ratio of 7.47 and a current ratio of 8.06. The stock’s 50 day simple moving average is C$61.45. Granite Real Estate Investment Trust has a 1-year low of C$52.37 and a 1-year high of C$64.66. The stock has a market cap of $2.84 billion and a PE ratio of 6.01.

The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be given a dividend of $0.233 per share. The ex-dividend date is Tuesday, July 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.51%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 27.15%.

About Granite Real Estate Investment Trust

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.

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Analyst Recommendations for Granite Real Estate Investment Trust (TSE:GRT.UN)

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