Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$71.00 Price Target at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price cut by TD Securities from C$72.00 to C$71.00 in a research note published on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, Desjardins upped their price target on Granite Real Estate Investment Trust from C$64.00 to C$65.00 in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of C$68.30.

Granite Real Estate Investment Trust stock traded up C$0.92 during trading on Friday, hitting C$61.93. 118,996 shares of the company were exchanged, compared to its average volume of 78,930. The firm has a 50 day simple moving average of C$61.40. Granite Real Estate Investment Trust has a 52 week low of C$52.37 and a 52 week high of C$64.66. The company has a market capitalization of $2.84 billion and a P/E ratio of 6.01. The company has a debt-to-equity ratio of 50.15, a current ratio of 8.06 and a quick ratio of 7.47.

The company also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.233 per share. The ex-dividend date is Tuesday, July 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.51%. Granite Real Estate Investment Trust’s dividend payout ratio is presently 27.15%.

About Granite Real Estate Investment Trust

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.

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Analyst Recommendations for Granite Real Estate Investment Trust (TSE:GRT.UN)

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