Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Target Lowered at National Bank Financial

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target dropped by stock analysts at National Bank Financial from C$112.00 to C$100.00 in a report released on Wednesday, BayStreet reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective would indicate a potential upside of 17.90% from the company’s previous close.

Several other research analysts have also issued reports on GRT.UN. Raymond James Financial decreased their target price on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. TD raised their target price on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Desjardins lifted their price target on Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$102.50.

Granite Real Estate Investment Trust Trading Down 0.9%

Shares of GRT.UN traded down C$0.77 during trading hours on Wednesday, reaching C$84.82. 25,316 shares of the company traded hands, compared to its average volume of 99,422. Granite Real Estate Investment Trust has a 12 month low of C$75.00 and a 12 month high of C$101.50. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The company’s fifty day moving average price is C$86.33 and its two-hundred day moving average price is C$91.27. The company has a market capitalization of C$5.27 billion, a price-to-earnings ratio of 14.03 and a beta of 1.48.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its quarterly earnings data on Wednesday, August 5th. The company reported C$1.14 EPS for the quarter. The business had revenue of C$165.09 million during the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. Equities research analysts predict that Granite Real Estate Investment Trust will post 5.58 earnings per share for the current fiscal year.

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 147 investment properties representing approximately 62.6 million square feet of leasable area.