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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price increased by BMO Capital Markets from C$84.00 to C$86.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 13.31% from the company’s current price.

Several other research analysts have also commented on the company. Raymond James raised their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. TD Securities raised their target price on Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, National Bankshares boosted their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. Seven 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 company presently has an average rating of “Buy” and a consensus target price of C$89.28.

Granite Real Estate Investment Trust Stock Performance

TSE GRT.UN opened at C$75.90 on Monday. The company has a market cap of C$4.76 billion, a PE ratio of 21.00 and a beta of 1.18. Granite Real Estate Investment Trust has a 1-year low of C$62.72 and a 1-year high of C$82.88. The stock’s 50 day simple moving average is C$77.74 and its 200-day simple moving average is C$72.90. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

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