Desjardins Issues Positive Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price upped by Desjardins from C$106.00 to C$108.00 in a research report report published on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. TD raised their target price on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research report on Friday. Raymond James Financial boosted their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Scotia increased their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 8th. Canaccord Genuity Group raised their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$103.50.

Granite Real Estate Investment Trust Price Performance

TSE GRT.UN opened at C$92.00 on Friday. Granite Real Estate Investment Trust has a 52 week low of C$74.96 and a 52 week high of C$101.50. 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 stock has a market cap of C$5.59 billion, a price-to-earnings ratio of 14.28 and a beta of 1.48. The company has a 50-day moving average price of C$96.04 and a two-hundred day moving average price of C$91.34.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share for the quarter. The company had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. Analysts forecast that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 14th will be issued a $0.2958 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.9%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 53.53%.

About Granite Real Estate Investment Trust

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 147 investment properties representing approximately 62.6 million square feet of leasable area.