Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$95.00 and last traded at C$95.00, with a volume of 30025 shares changing hands. The stock had previously closed at C$93.80.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce raised their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. Royal Bank Of Canada increased their target price on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research note on Friday, February 27th. BMO Capital Markets lifted their price target on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th. Canaccord Genuity Group boosted their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, National Bank Financial upped their price objective on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$99.64.
Check Out Our Latest Stock Analysis on Granite Real Estate Investment Trust
Granite Real Estate Investment Trust Trading Up 1.5%
Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The firm had revenue of C$165.83 million during the quarter. As a group, analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.
Granite Real Estate Investment Trust Announces Dividend
The firm also recently declared a monthly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a $0.2958 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, March 31st. Granite Real Estate Investment Trust’s payout ratio is presently 53.53%.
About Granite Real Estate Investment Trust
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.
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