Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Gets Price Target Reduction from National Bank Financial

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective reduced by National Bank Financial from C$112.00 to C$100.00 in a report published on Wednesday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on GRT.UN. Desjardins increased their price objective on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Raymond James Financial lowered their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, TD upped their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$102.50.

Granite Real Estate Investment Trust Trading Down 2.2%

Shares of GRT.UN stock opened at C$84.65 on Wednesday. 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 company has a market cap of C$5.26 billion, a price-to-earnings ratio of 14.00 and a beta of 1.48. Granite Real Estate Investment Trust has a 1 year low of C$75.00 and a 1 year high of C$101.50. The firm has a fifty day moving average price of C$85.96 and a 200-day moving average price of C$91.23.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its earnings results on Wednesday, August 5th. The company reported C$1.14 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 company had revenue of C$165.09 million for the quarter. As a group, equities analysts predict that Granite Real Estate Investment Trust will post 5.58 earnings per share for the current year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 14th were paid a dividend of $0.2958 per share. This represents a $3.55 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, July 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 57.68%.

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.