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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have earned an average rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is C$103.50.

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

Granite Real Estate Investment Trust Price Performance

GRT.UN stock opened at C$87.37 on Thursday. Granite Real Estate Investment Trust has a 1 year low of C$75.00 and a 1 year high of C$101.50. The firm has a market capitalization of C$5.42 billion, a PE ratio of 14.45 and a beta of 1.41. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The business has a 50 day simple moving average of C$93.53 and a 200-day simple moving average of C$91.61.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings data on Wednesday, August 5th. The company reported C$1.16 earnings per share for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The company had revenue of C$165.09 million for the quarter. Equities research analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 14th were paid a $0.2958 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.1%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 57.68%.

Granite Real Estate Investment Trust Company Profile

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.