Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$86.00 Price Target at BMO Capital Markets

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target hoisted by BMO Capital Markets from C$84.00 to C$86.00 in a report released on Monday, BayStreet.CA reports.

GRT.UN has been the subject of several other reports. National Bankshares raised their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. Raymond James raised their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Finally, TD Securities raised their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Granite Real Estate Investment Trust presently has a consensus rating of “Buy” and a consensus price target of C$89.28.

Granite Real Estate Investment Trust Stock Up 0.1 %

GRT.UN opened at C$76.53 on Monday. The company has a 50 day moving average of C$77.64 and a 200 day moving average of C$72.90. The company has a market cap of C$4.80 billion, a PE ratio of 21.08 and a beta of 1.18. Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$82.88. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were issued a $0.275 dividend. This represents a $3.30 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Friday, August 30th. Granite Real Estate Investment Trust’s payout ratio is 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.