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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target reduced by TD Securities from C$90.00 to C$88.00 in a report released on Wednesday, BayStreet.CA reports.

Other analysts have also issued research reports about the company. Royal Bank of Canada lifted their price objective on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an outperform rating in a report on Friday, March 1st. National Bankshares boosted their price target on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the company an outperform rating in a report on Monday, January 29th. Desjardins boosted their price target on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a buy rating in a report on Friday, March 1st. BMO Capital Markets boosted their price target on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a report on Monday, March 4th. Finally, Laurentian boosted their price target on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a buy rating in a report on Monday, January 22nd. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Buy and an average price target of C$87.33.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN opened at C$69.47 on Wednesday. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$85.00. The firm has a market capitalization of C$4.40 billion, a P/E ratio of 32.16 and a beta of 1.14. The business has a fifty day moving average of C$74.10 and a 200 day moving average of C$72.90.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were given a $0.275 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.30 annualized dividend and a dividend yield of 4.75%. Granite Real Estate Investment Trust’s payout ratio is 152.78%.

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.