Royal Bank Of Canada Issues Pessimistic Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target reduced by Royal Bank Of Canada from C$110.00 to C$105.00 in a report issued on Monday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 20.33% from the company’s previous close.

GRT.UN has been the subject of several other reports. Desjardins increased their target price on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a report on Friday, August 7th. National Bank Financial lowered their price target on shares of Granite Real Estate Investment Trust from C$112.00 to C$100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 21st. Raymond James Financial dropped their price target on shares of 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. Finally, TD increased their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Granite Real Estate Investment Trust has an average rating of “Buy” and a consensus price target of C$103.00.

Granite Real Estate Investment Trust Stock Performance

GRT.UN traded up C$0.34 during midday trading on Monday, reaching C$87.26. The company had a trading volume of 21,785 shares, compared to its average volume of 98,622. The business has a 50-day moving average of C$85.10 and a two-hundred day moving average of C$89.71. 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 has a 1 year low of C$75.00 and a 1 year high of C$101.50. The company has a market cap of C$5.42 billion, a P/E ratio of 14.43 and a beta of 1.36.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its quarterly earnings data on Wednesday, November 4th. The company reported C$1.26 earnings per share for the quarter. The firm had revenue of C$166.56 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. As a group, 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.