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

Key Points

• Granite Real Estate Investment Trust has an average analyst recommendation of “Buy”, with all eight covering firms rating it a buy and an average 1-year price target of C$99.64.
• Several brokers recently raised their price targets, including CIBC to C$105, National Bank Financial to C$110, and Canaccord to C$105, reflecting broadly bullish sentiment around the REIT.
• The company reported Q1 EPS of C$1.51 on revenue of C$165.83 million, and it continues to pay a monthly dividend that implies a 3.8% yield.

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U have received an average recommendation of "Buy" from the eight research firms that are currently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is C$99.64.

Several analysts have issued reports on GRT.UN shares. TD Securities boosted their price target on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a "buy" rating in a report on Friday, February 27th. Canadian Imperial Bank of Commerce boosted their price target on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a report on Friday. BMO Capital Markets boosted their price target on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th. National Bank Financial upped their price objective on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Finally, Canaccord Genuity Group upped their price objective on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a "buy" rating in a research note on Friday.

Granite Real Estate Investment Trust News Roundup

Here are the key news stories impacting Granite Real Estate Investment Trust this week:

• Positive Sentiment: Canadian Imperial Bank of Commerce raised its price target from C$98.00 to C$105.00 (≈12% upside vs. current price). BayStreet.CA
• Positive Sentiment: Raymond James lifted its target to C$103.00 (from C$101.00) and assigned an “outperform” rating (≈9.8% implied upside). BayStreet.CA
• Positive Sentiment: Canaccord Genuity raised its target to C$105.00 (from C$100.00) and reiterated a “buy” rating (≈12% implied upside). BayStreet.CA
• Positive Sentiment: TD increased its target from C$96.00 to C$101.00 and has a “buy” rating (≈7.7% implied upside). BayStreet.CA
• Positive Sentiment: Scotiabank raised its target to C$105.00 (from C$100.00) and set a “sector outperform” view (≈12% implied upside). BayStreet.CA TickerReport
• Neutral Sentiment: Granite reported Q1 results on May 6: EPS C$1.51 on revenue C$165.83M, with a 42.5% net margin and ROE of 4.28%. These results appear solid and underpin the analyst upgrades, but they do not by themselves explain the concentrated wave of bullish analyst action. MarketBeat Report

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock traded up C$1.38 during mid-day trading on Friday, reaching C$93.77. 29,116 shares of the stock traded hands, compared to its average volume of 119,978. The stock has a market capitalization of C$5.69 billion, a PE ratio of 16.60 and a beta of 1.34. 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 has a 12-month low of C$63.85 and a 12-month high of C$95.00. The business's 50-day moving average is C$87.70 and its 200-day moving average is C$84.02.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The business had revenue of C$165.83 million during the quarter. As a group, sell-side analysts predict that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were paid a $0.2958 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. Granite Real Estate Investment Trust's dividend payout ratio is 60.40%.

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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