Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$90.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective upped by Royal Bank Of Canada from C$88.00 to C$90.00 in a research report report published on Tuesday,BayStreet.CA reports.

Several other equities research analysts also recently issued reports on GRT.UN. TD Securities raised their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$88.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Scotiabank upped their price objective on Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a research note on Friday, August 8th. Desjardins raised their price objective on Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a report on Monday. Finally, National Bankshares increased their price target on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Granite Real Estate Investment Trust has an average rating of “Buy” and a consensus price target of C$87.88.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN stock opened at C$77.28 on Tuesday. The stock has a market cap of C$4.68 billion, a P/E ratio of 16.34 and a beta of 1.61. 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 company has a fifty day moving average price of C$77.97 and a two-hundred day moving average price of C$73.64. Granite Real Estate Investment Trust has a one year low of C$55.25 and a one year high of C$82.45.

Granite Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 14th will be issued a dividend of $0.2833 per share. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, October 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 71.54%.

About Granite Real Estate Investment Trust

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.