Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target boosted by Royal Bank of Canada from C$66.00 to C$67.00 in a research note published on Friday, BayStreet.CA reports.
A number of other research firms have also recently weighed in on GRT.UN. TD Securities reduced their price objective on shares of Granite Real Estate Investment Trust from C$72.00 to C$71.00 and set a buy rating for the company in a research report on Friday. Desjardins upped their price objective on shares of Granite Real Estate Investment Trust from C$64.00 to C$65.00 in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of C$68.30.
TSE:GRT.UN traded up C$0.92 during trading hours on Friday, reaching C$61.93. 118,996 shares of the company were exchanged, compared to its average volume of 78,930. The company has a debt-to-equity ratio of 50.15, a quick ratio of 7.47 and a current ratio of 8.06. The stock has a 50-day moving average of C$61.40. The firm has a market cap of $2.84 billion and a price-to-earnings ratio of 6.01. Granite Real Estate Investment Trust has a twelve month low of C$52.37 and a twelve month high of C$64.66.
The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.233 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Tuesday, July 30th. Granite Real Estate Investment Trust’s payout ratio is 27.15%.
Granite Real Estate Investment Trust Company Profile
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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