Granite Real Estate Investment Trust (TSE:GRT.UN) Sets New 52-Week Low at $80.11

[view original post]

Granite Real Estate Investment Trust (TSE:GRT.UNGet Rating) (NASDAQ:GRP.U)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as C$80.11 and last traded at C$80.38, with a volume of 52741 shares trading hands. The stock had previously closed at C$84.16.

GRT.UN has been the topic of several research analyst reports. CIBC reduced their price target 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 research report on Friday, May 13th. TD Securities upgraded shares of Granite Real Estate Investment Trust from a “buy” rating to an “action list buy” rating and set a C$115.00 price target on the stock in a research report on Friday, March 11th. BMO Capital Markets boosted their price target on shares of Granite Real Estate Investment Trust from C$112.00 to C$115.00 in a research report on Monday, March 14th. Scotiabank boosted their price target on shares of Granite Real Estate Investment Trust from C$109.00 to C$110.00 in a research report on Thursday, April 28th. Finally, Raymond James set a C$110.00 price target on shares of Granite Real Estate Investment Trust and gave the company an “outperform” rating in a research report on Thursday, March 10th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$108.22.

The company has a market cap of C$5.28 billion and a P/E ratio of 3.36. The stock’s 50-day moving average is C$91.58 and its two-hundred day moving average is C$95.70. The company has a debt-to-equity ratio of 43.18, a current ratio of 1.96 and a quick ratio of 1.54.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 15th will be given a dividend of $0.2583 per share. This is an increase from Granite Real Estate Investment Trust’s previous monthly dividend of $0.25. The ex-dividend date is Monday, May 30th. This represents a $3.10 dividend on an annualized basis and a yield of 3.86%. Granite Real Estate Investment Trust’s dividend payout ratio is 12.64%.

About Granite Real Estate Investment Trust (TSE:GRT.UN)

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.

Featured Articles

Want More Great Investing Ideas?

Receive News & Ratings for Granite Real Estate Investment Trust Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Granite Real Estate Investment Trust and related companies with MarketBeat.com’s FREE daily email newsletter.