Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$86.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective boosted by analysts at BMO Capital Markets from C$84.00 to C$86.00 in a research report issued on Monday, BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 12.45% from the stock’s previous close.

GRT.UN has been the subject of a number of other research reports. TD Securities boosted their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Raymond James upped their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Finally, National Bankshares upped their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. Seven 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 has an average rating of “Buy” and an average target price of C$89.28.

Granite Real Estate Investment Trust Stock Performance

Shares of Granite Real Estate Investment Trust stock traded up C$0.05 during trading on Monday, hitting C$76.48. 25,256 shares of the stock were exchanged, compared to its average volume of 82,325. The stock has a market capitalization of C$4.80 billion, a price-to-earnings ratio of 21.05 and a beta of 1.18. The company has a fifty day moving average price of C$77.64 and a 200-day moving average price of C$72.90. Granite Real Estate Investment Trust has a 1-year low of C$62.72 and a 1-year 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 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.