Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$86.00 Price Target at BMO Capital Markets

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target hoisted by BMO Capital Markets from C$84.00 to C$86.00 in a research note issued to investors on Monday, BayStreet.CA reports.

A number of other equities research analysts have also weighed in on GRT.UN. Raymond James upped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. TD Securities increased their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, National Bankshares increased their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Granite Real Estate Investment Trust presently has a consensus rating of “Buy” and an average price target of C$89.28.

Granite Real Estate Investment Trust Trading Up 0.1 %

GRT.UN opened at C$76.53 on Monday. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a fifty-two week low of C$62.72 and a fifty-two week high of C$82.88. The firm has a market capitalization of C$4.80 billion, a PE ratio of 21.08 and a beta of 1.18. The company’s 50-day moving average is C$77.64 and its 200 day moving average is C$72.90.

Granite Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.30 annualized dividend and a dividend yield of 4.31%. Granite Real Estate Investment Trust’s payout ratio is currently 90.91%.

Granite Real Estate Investment Trust Company Profile

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 143 investment properties representing approximately 62.9 million square feet of leasable area.