Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Average Recommendation of “Buy” from Analysts

by · The Cerbat Gem

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$103.50.

A number of equities analysts have weighed in on GRT.UN shares. Desjardins upped their price objective on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. TD lifted their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Raymond James Financial cut their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating for the company in a research note on Friday, August 7th.

Get Our Latest Research Report on Granite Real Estate Investment Trust

Granite Real Estate Investment Trust Price Performance

TSE:GRT.UN opened at C$85.56 on Thursday. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 52 week low of C$75.00 and a 52 week high of C$101.50. The stock’s 50-day moving average price is C$92.80 and its 200-day moving average price is C$91.54. The stock has a market capitalization of C$5.31 billion, a PE ratio of 14.15 and a beta of 1.41.

Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share (EPS) for the quarter. The company had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. As a group, equities 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 company also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 14th were paid a dividend of $0.2958 per share. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, July 31st. Granite Real Estate Investment Trust’s payout ratio is 57.68%.

About Granite Real Estate Investment Trust

(Get Free Report)

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.

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