Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Rated "Buy" by Wall Street Analysts

Key Points

• Granite Real Estate Investment Trust has a consensus “Buy” rating from seven analysts, with an average 12-month price target of C$103.50 versus its recent price of C$83.59.
• Recent analyst updates were generally positive: Desjardins and TD raised their price targets to C$108 and C$103, respectively, while Raymond James lowered its target to C$106 but maintained an “outperform” rating.
• The REIT reported quarterly revenue of C$165.09 million and earnings of C$1.16 per share, and pays a monthly dividend of C$0.2958, equivalent to an annualized yield of approximately 4.2%.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U has received a consensus recommendation of "Buy" from the seven analysts that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$103.50.

Several research firms have commented on GRT.UN. Raymond James Financial dropped their price objective on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Desjardins lifted their target price on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, TD boosted their price target on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a "buy" rating in a research report on Friday, August 7th.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN opened at C$83.59 on Monday. Granite Real Estate Investment Trust has a 1 year low of C$75.00 and a 1 year high of C$101.50. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock's fifty day moving average price is C$88.78 and its two-hundred day moving average price is C$91.13. The firm has a market cap of C$5.19 billion, a PE ratio of 13.83 and a beta of 1.41.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last posted its quarterly earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The company had revenue of C$165.09 million during the quarter. On average, equities research analysts forecast that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 14th were issued a $0.2958 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $3.55 annualized dividend and a yield of 4.2%. Granite Real Estate Investment Trust's dividend payout ratio (DPR) is 57.68%.

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 147 investment properties representing approximately 62.6 million square feet of leasable area.

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