Granite Real Estate Investment Trust (TSE:GRT.UN) PT Raised to C$92.00 at Raymond James

Posted by Mitch Edgeman on Sep 7th, 2024

Granite Real Estate Investment Trust (TSE:GRT.UN – Free Report) (NASDAQ:GRP.U) had its price objective hoisted by Raymond James from C$90.00 to C$92.00 in a research report released on Friday morning, BayStreet.CA reports.

Several other equities research analysts have also commented on GRT.UN. CIBC lifted their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research note on Friday, May 10th. TD Securities raised their price objective on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a buy rating in a report on Wednesday. Finally, Canaccord Genuity Group reduced their target price on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a report on Friday, May 10th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of C$88.10.

Check Out Our Latest Stock Report on Granite Real Estate Investment Trust

Granite Real Estate Investment Trust Price Performance

The stock’s fifty day simple moving average is C$72.80 and its 200 day simple moving average is C$71.88. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a market capitalization of C$4.74 billion, a PE ratio of 20.77 and a beta of 1.17. Granite Real Estate Investment Trust has a 52 week low of C$62.72 and a 52 week high of C$80.14.

Granite Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a yield of ∞. The ex-dividend date of this dividend is Friday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio is presently 90.66%.

Granite Real Estate Investment Trust Company Profile

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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.