Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$88.00 at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective upped by TD Securities from C$85.00 to C$88.00 in a research report released on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. National Bankshares raised their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Raymond James Financial increased their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$87.50 in a report on Friday, August 8th. Desjardins raised their price target on shares of Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Scotiabank upped their price objective on shares of Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a research report on Friday, August 8th. Finally, Royal Bank Of Canada increased their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$87.06.

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock traded down C$0.50 during midday trading on Friday, hitting C$77.47. 82,024 shares of the company were exchanged, compared to its average volume of 100,619. The business has a fifty day simple moving average of C$77.93 and a two-hundred day simple moving average of C$73.20. 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 firm has a market capitalization of C$4.69 billion, a PE ratio of 16.38 and a beta of 1.61. Granite Real Estate Investment Trust has a fifty-two week low of C$55.25 and a fifty-two week high of C$82.45.

Granite Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, November 14th will be paid a $0.2833 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Granite Real Estate Investment Trust’s payout ratio is currently 71.54%.

About Granite Real Estate Investment Trust

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.