Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$93.50

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price increased by equities researchers at National Bankshares from C$85.00 to C$93.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 17.94% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. TD Securities raised their target price 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 research note on Wednesday, September 4th. Raymond James raised their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$88.95.

Granite Real Estate Investment Trust Price Performance

Shares of TSE:GRT.UN traded down C$0.42 on Wednesday, hitting C$79.28. The company’s stock had a trading volume of 39,101 shares, compared to its average volume of 81,212. The company has a market capitalization of C$4.97 billion, a PE ratio of 21.84 and a beta of 1.18. 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 50-day simple moving average of C$76.55 and a 200 day simple moving average of C$72.76. Granite Real Estate Investment Trust has a 1 year low of C$62.72 and a 1 year high of C$82.88.

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.