Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$96.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target raised by investment analysts at TD Securities from C$94.00 to C$96.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 3.88% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Raymond James Financial lowered shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. BMO Capital Markets lifted their price target on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research note on Monday, November 10th. Finally, Royal Bank Of Canada increased their price objective on Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a research note on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$93.38.

Granite Real Estate Investment Trust Price Performance

GRT.UN traded up C$2.84 during midday trading on Friday, hitting C$92.41. 178,935 shares of the company traded hands, compared to its average volume of 129,348. The business has a 50 day simple moving average of C$86.13 and a two-hundred day simple moving average of C$80.68. Granite Real Estate Investment Trust has a 52-week low of C$55.25 and a 52-week high of C$92.89. The company has a market capitalization of C$5.60 billion, a price-to-earnings ratio of 19.54 and a beta of 1.29. 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 Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.