Granite Real Estate Investment Trust (TSE:GRT.UN) PT Lowered to C$71.00 at TD Securities

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Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price trimmed by TD Securities from C$72.00 to C$71.00 in a report released on Friday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Separately, Desjardins upped their price objective on Granite Real Estate Investment Trust from C$64.00 to C$65.00 in a 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 stock. The stock presently has an average rating of Buy and a consensus target price of C$68.30.

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

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be issued a $0.233 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Tuesday, July 30th. Granite Real Estate Investment Trust’s dividend payout ratio is presently 27.15%.

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.

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

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