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 target lowered by National Bankshares from C$87.00 to C$85.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. TD Securities cut 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. Desjardins upped their price target 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. BMO Capital Markets upped their price target on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Laurentian upped their price target on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a buy rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada upped their price target 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. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of C$87.33.

Granite Real Estate Investment Trust Trading Up 1.2 %

TSE:GRT.UN opened at C$69.47 on Wednesday. Granite Real Estate Investment Trust has a 52 week low of C$62.72 and a 52 week high of C$85.00. The firm has a 50 day moving average of C$74.00 and a 200 day moving average of C$72.89. The company has a quick ratio of 1.61, a current ratio of 0.40 and a debt-to-equity ratio of 58.81. The stock has a market capitalization of C$4.40 billion, a price-to-earnings ratio of 32.16 and a beta of 1.14.

Granite Real Estate Investment Trust Dividend Announcement

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

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.