Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$93.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target boosted by analysts at TD Securities from C$91.00 to C$93.00 in a report issued on Friday,BayStreet.CA reports. TD Securities’ price objective suggests a potential upside of 23.42% from the company’s current price.

GRT.UN has been the subject of several other reports. National Bankshares raised their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. BMO Capital Markets boosted their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$86.00 in a research report on Monday, October 28th. Finally, Raymond James raised their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$89.50.

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock traded down C$0.04 during trading on Friday, reaching C$75.35. The company had a trading volume of 17,245 shares, compared to its average volume of 82,573. The firm’s 50-day simple moving average is C$78.12 and its 200 day simple moving average is C$72.88. Granite Real Estate Investment Trust has a 52 week low of C$63.07 and a 52 week 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. The firm has a market capitalization of C$4.73 billion, a price-to-earnings ratio of 20.75 and a beta of 1.18.

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 143 investment properties representing approximately 62.9 million square feet of leasable area.