Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) Target Price at C$93.38

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given a consensus rating of “Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is C$93.38.

Several research analysts have recently commented on GRT.UN shares. Royal Bank Of Canada boosted their price objective on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday, February 27th. TD Securities raised their target price on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce lifted their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research report on Friday, February 27th. Raymond James Financial cut shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. Finally, BMO Capital Markets increased their price target on shares of Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th.

Granite Real Estate Investment Trust Price Performance

Shares of TSE GRT.UN opened at C$86.76 on Thursday. The stock’s 50-day simple moving average is C$87.41 and its two-hundred day simple moving average is C$81.30. Granite Real Estate Investment Trust has a twelve month low of C$55.25 and a twelve month high of C$92.89. The firm has a market capitalization of C$5.26 billion, a P/E ratio of 15.36 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 0.35 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.