Granite Real Estate Investment Trust (TSE:GRT.UN) PT Lowered to C$88.00 at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target trimmed by TD Securities from C$90.00 to C$88.00 in a research note released on Wednesday, BayStreet.CA reports.

A number of other brokerages have also recently commented on GRT.UN. National Bankshares upped their price target on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the company an outperform rating in a research note on Monday, January 29th. Royal Bank of Canada boosted their price objective on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an outperform rating in a research report on Friday, March 1st. Raymond James boosted their price objective 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 report on Monday, January 8th. BMO Capital Markets boosted their price objective on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Finally, Desjardins boosted their price objective on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a buy rating in a research report on Friday, March 1st. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of C$87.33.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN stock opened at C$69.47 on Wednesday. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61. The stock has a market cap of C$4.40 billion, a PE ratio of 32.16 and a beta of 1.14. The stock has a 50-day moving average of C$74.10 and a 200-day moving average of C$72.90. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$85.00.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were given 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 was Wednesday, March 27th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) 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.