Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a bullish view: All seven covering brokerages rate Granite Real Estate Investment Trust “Buy,” with an average 12-month price target of C$103.50 versus a recent price of C$91.13.
• Granite reported quarterly EPS of C$1.16 on revenue of C$165.09 million, with a net margin of 42.5% and return on equity of 4.28%.
• The REIT paid a monthly dividend of C$0.2958 per share, representing an annualized yield of approximately 3.9% and a payout ratio of 57.68%.

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U have been given a consensus rating of "Buy" by the seven brokerages that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$103.50.

GRT.UN has been the subject of several research analyst reports. Raymond James Financial reduced their target price on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. TD increased their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Scotia raised their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a "sector outperform" rating in a report on Friday, May 8th. National Bank Financial lifted their price objective on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a report on Friday, May 8th.

Granite Real Estate Investment Trust Stock Down 0.3%

Granite Real Estate Investment Trust stock opened at C$91.13 on Friday. The firm has a market capitalization of C$5.66 billion, a PE ratio of 15.07 and a beta of 1.48. The company's 50-day moving average is C$95.62 and its 200-day moving average is C$91.44. Granite Real Estate Investment Trust has a fifty-two week low of C$75.00 and a fifty-two week 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.

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

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 14th were issued a dividend of $0.2958 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.9%. Granite Real Estate Investment Trust's payout ratio is presently 57.68%.

Granite Real Estate Investment Trust Company Profile

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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