Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$105.00 at Scotia

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price upped by Scotia from C$100.00 to C$105.00 in a report released on Friday morning,BayStreet.CA reports. The firm currently has a sector outperform rating on the stock.

Several other analysts have also recently weighed in on GRT.UN. National Bank Financial upped 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 note on Monday, April 20th. Royal Bank Of Canada upped their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce upped their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research note on Friday, February 27th. Raymond James Financial lowered Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. Finally, TD Securities boosted their price objective on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$99.64.

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock opened at C$93.47 on Friday. 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 has a fifty day moving average price of C$87.70 and a two-hundred day moving average price of C$84.02. Granite Real Estate Investment Trust has a 52-week low of C$63.85 and a 52-week high of C$95.00. The firm has a market capitalization of C$5.67 billion, a P/E ratio of 14.50 and a beta of 1.34.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings data 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 firm had revenue of C$165.83 million during the quarter. As a group, analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were paid a $0.2958 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 53.53%.

Key Granite Real Estate Investment Trust News

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

• Positive Sentiment: Canadian Imperial Bank of Commerce lifted its price target on Granite Real Estate Investment Trust to C$105 from C$98, implying meaningful upside from current levels. BayStreet.CA
• Positive Sentiment: Raymond James raised its target to C$103 from C$101 and reiterated an outperform rating, reinforcing a bullish stance on the stock. BayStreet.CA
• Positive Sentiment: Canaccord Genuity increased its target to C$105 from C$100 and kept a buy rating, adding to the positive sentiment around the name. BayStreet.CA
• Positive Sentiment: TD also raised its target to C$101 from C$96 and maintained a buy rating, suggesting analysts see room for further gains. BayStreet.CA
• Positive Sentiment: Scotia boosted its target to C$105 from C$100 and kept a sector outperform rating, another signal of broad analyst confidence. Tickerreport.com
• Neutral Sentiment: The REIT’s latest quarterly results showed C$1.51 EPS on revenue of C$165.83 million, with a 42.5% net margin and 4.28% return on equity; the report was solid but did not include a major new operational surprise.

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.