Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Cut to C$85.00 by Analysts at National Bankshares

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective lowered by National Bankshares from C$87.00 to C$85.00 in a research report released on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on GRT.UN. BMO Capital Markets increased their price objective on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a report on Monday, March 4th. TD Securities lowered their target price on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday. Raymond James raised their target price on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a strong-buy rating in a research note on Monday, January 8th. Laurentian raised their target price on 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 raised their target price on 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 investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target 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 fifty-two week low of C$62.72 and a fifty-two week high of C$85.00. The company has a debt-to-equity ratio of 58.81, a quick ratio of 1.61 and a current ratio of 0.40. The stock has a 50 day simple moving average of C$74.10 and a two-hundred day simple moving average of C$72.90. The stock has a market cap of C$4.40 billion, a P/E ratio of 32.16 and a beta of 1.14.

Granite Real Estate Investment Trust Dividend Announcement

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

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.