CIBC 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 hoisted by CIBC from C$74.00 to C$85.00 in a report issued on Wednesday morning,BayStreet.CA reports.

GRT.UN has been the subject of a number of other reports. Scotiabank dropped their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$75.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. TD Securities dropped their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$77.00 in a report on Monday, April 21st. Finally, Raymond James dropped their price objective on shares of Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a report on Friday, February 28th.

Granite Real Estate Investment Trust Trading Down 1.7%

Shares of GRT.UN opened at C$70.38 on Wednesday. Granite Real Estate Investment Trust has a twelve month low of C$55.25 and a twelve month high of C$82.88. The stock has a market cap of C$4.42 billion, a PE ratio of 19.39 and a beta of 1.18. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The business’s 50-day moving average price is C$65.27 and its 200-day moving average price is C$67.89.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were issued a $0.2833 dividend. This represents a $3.40 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Monday, March 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 90.91%.

About Granite Real Estate Investment Trust

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.