BMO Capital Markets Forecasts Strong Price Appreciation for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target hoisted by BMO Capital Markets from C$86.00 to C$88.00 in a report published on Monday,BayStreet.CA reports.

Several other research analysts also recently issued reports on GRT.UN. National Bankshares upped their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Raymond James lifted their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Finally, TD Securities upped their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$89.72.

Granite Real Estate Investment Trust Trading Up 0.6 %

Shares of Granite Real Estate Investment Trust stock opened at C$76.54 on Monday. The firm has a market capitalization of C$4.80 billion, a PE ratio of 21.09 and a beta of 1.18. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The firm’s 50 day moving average is C$78.10 and its 200 day moving average is C$72.92. Granite Real Estate Investment Trust has a 1 year low of C$63.70 and a 1 year high of C$82.88.

Granite Real Estate Investment Trust Dividend Announcement

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