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Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) has earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$87.70.
A number of analysts recently commented on GRT.UN shares. Canaccord Genuity Group decreased their price objective on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research note on Friday, May 10th. CIBC lifted their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a report on Friday, May 10th. National Bankshares cut their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, TD Securities decreased their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research report on Wednesday, April 24th.
Check Out Our Latest Report on Granite Real Estate Investment Trust
Granite Real Estate Investment Trust Stock Performance
TSE GRT.UN opened at C$74.32 on Monday. The firm has a market cap of C$4.68 billion, a P/E ratio of 21.79 and a beta of 1.16. Granite Real Estate Investment Trust has a 52-week low of C$62.72 and a 52-week high of C$80.81. The business’s 50-day moving average price is C$68.75 and its 200 day moving average price is C$72.17. The company has a quick ratio of 1.61, a current ratio of 0.45 and a debt-to-equity ratio of 58.04.
Granite Real Estate Investment Trust Announces Dividend
The firm also recently announced a monthly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, June 14th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.30 annualized dividend and a dividend yield of 4.44%. Granite Real Estate Investment Trust’s dividend payout ratio is presently 96.77%.
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 143 investment properties representing approximately 62.9 million square feet of leasable area.
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