Granite Real Estate Investment Trust (TSE:GRT.UN) PT Raised to C$93.50 at National Bankshares

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective raised by National Bankshares from C$85.00 to C$93.50 in a research note published on Wednesday morning, BayStreet.CA reports.

A number of other equities analysts have also issued reports on GRT.UN. TD Securities increased their price target on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a buy rating in a research note on Wednesday, September 4th. Raymond James increased their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of C$88.95.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE GRT.UN opened at C$77.00 on Wednesday. The stock has a fifty day moving average price of C$76.78 and a two-hundred day moving average price of C$72.86. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The firm has a market cap of C$4.83 billion, a P/E ratio of 21.21 and a beta of 1.18. Granite Real Estate Investment Trust has a 1 year low of C$62.72 and a 1 year high of C$82.88.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were issued a $0.275 dividend. The ex-dividend date was Friday, August 30th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.29%. Granite Real Estate Investment Trust’s payout ratio is currently 90.91%.

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.