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

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Shares of Granite Real Estate Investment Trust (TSE:GRT.UNGet Rating) (NASDAQ:GRP.U) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$101.86.

A number of equities analysts recently commented on GRT.UN shares. Scotiabank cut their price objective on Granite Real Estate Investment Trust from C$110.00 to C$97.00 in a research note on Thursday, July 21st. CIBC dropped their price target on shares of Granite Real Estate Investment Trust from C$102.00 to C$98.00 and set an “outperform” rating on the stock in a research report on Friday, August 12th. Raymond James decreased their price objective on shares of Granite Real Estate Investment Trust from C$112.00 to C$98.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. National Bankshares boosted their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$90.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Finally, Royal Bank of Canada increased their price target on Granite Real Estate Investment Trust from C$99.00 to C$100.00 and gave the stock an “outperform” rating in a report on Monday, August 15th.

Granite Real Estate Investment Trust Trading Down 0.4 %

GRT.UN opened at C$74.60 on Thursday. The company has a debt-to-equity ratio of 48.12, a current ratio of 2.36 and a quick ratio of 1.07. Granite Real Estate Investment Trust has a fifty-two week low of C$73.34 and a fifty-two week high of C$105.79. The company’s 50 day moving average price is C$78.58 and its two-hundred day moving average price is C$87.16. The firm has a market capitalization of C$4.88 billion and a price-to-earnings ratio of 4.43.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.2583 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.10 dividend on an annualized basis and a yield of 4.15%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 18.16%.

About Granite Real Estate Investment Trust

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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.

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