Granite Real Estate Investment Trust (TSE:GRT.UN) PT Lowered to C$90.00 at Canaccord Genuity Group

Granite Real Estate Investment Trust (TSE:GRT.UN - Free Report) NASDAQ: GRP.U had its price objective trimmed by Canaccord Genuity Group from C$96.50 to C$90.00 in a report published on Friday, BayStreet.CA reports.

A number of other brokerages also recently weighed in on GRT.UN. Royal Bank of Canada increased their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an outperform rating in a research report on Friday, March 1st. BMO Capital Markets raised their price target on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a report on Monday, March 4th. Laurentian lifted their price objective on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the stock a buy rating in a research note on Monday, January 22nd. TD Securities reduced their price objective on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday, April 24th. Finally, National Bankshares cut their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an outperform rating on the stock in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of C$87.70.

Granite Real Estate Investment Trust Stock Up 0.2 %

Shares of TSE:GRT.UN traded up C$0.11 during trading on Friday, hitting C$71.23. The stock had a trading volume of 54,484 shares, compared to its average volume of 85,406. The company has a quick ratio of 1.61, a current ratio of 0.45 and a debt-to-equity ratio of 58.04. Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$83.90. The company has a market capitalization of C$4.49 billion, a PE ratio of 20.95 and a beta of 1.14. The firm's fifty day moving average is C$73.26 and its 200 day moving average is C$72.87.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were paid a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Wednesday, March 27th. Granite Real Estate Investment Trust's dividend payout ratio is presently 97.06%.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.