Granite Real Estate Investment Trust (TSE:GRT.UN) Reaches New 1-Year High at $80.15

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) hit a new 52-week high on Friday . The company traded as high as C$80.15 and last traded at C$80.07, with a volume of 10348 shares trading hands. The stock had previously closed at C$79.24.

Analyst Ratings Changes

GRT.UN has been the topic of a number of recent analyst reports. Raymond James boosted their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. TD Securities boosted their target price on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$88.10.

Granite Real Estate Investment Trust Price Performance

The company has a market capitalization of C$5.05 billion, a PE ratio of 22.10 and a beta of 1.17. The stock has a 50 day moving average price of C$73.88 and a two-hundred day moving average price of C$72.06. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be issued a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Friday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio is presently 90.66%.

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.