Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$98.00 at Canadian Imperial Bank of Commerce

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target hoisted by stock analysts at Canadian Imperial Bank of Commerce from C$90.00 to C$98.00 in a research note issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target points to a potential upside of 6.05% from the company’s current price.

GRT.UN has been the subject of several other reports. TD Securities increased their target price on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a report on Friday. Raymond James Financial downgraded Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from C$93.00 to C$96.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada raised their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday. Finally, BMO Capital Markets upped their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research note on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$93.38.

Granite Real Estate Investment Trust Trading Up 3.2%

Granite Real Estate Investment Trust stock traded up C$2.84 during mid-day trading on Friday, hitting C$92.41. The company’s stock had a trading volume of 178,935 shares, compared to its average volume of 129,348. 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 stock has a market cap of C$5.60 billion, a price-to-earnings ratio of 19.54 and a beta of 1.29. The business has a 50 day moving average price of C$86.13 and a 200-day moving average price of C$80.68. Granite Real Estate Investment Trust has a 12 month low of C$55.25 and a 12 month high of C$92.89.

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.