Granite Real Estate Investment Trust (GRT.UN) Price Target Increased to C$72.00 by Analysts at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective raised by TD Securities from C$71.00 to C$72.00 in a research note published on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other research firms also recently commented on GRT.UN. CIBC reissued an outperform rating and set a C$69.00 target price on shares of Granite Real Estate Investment Trust in a research report on Thursday, March 21st. Royal Bank of Canada increased their target price on shares of Granite Real Estate Investment Trust from C$62.00 to C$66.00 and gave the stock an outperform rating in a research report on Monday, March 11th. BMO Capital Markets increased their target price on shares of Granite Real Estate Investment Trust from C$60.00 to C$69.50 and gave the stock a market perform rating in a research report on Monday, March 18th. Finally, Desjardins increased their target price on shares of Granite Real Estate Investment Trust from C$64.00 to C$65.00 in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of C$66.08.

Shares of TSE:GRT.UN traded up C$0.17 during midday trading on Wednesday, hitting C$61.67. 5,421 shares of the stock were exchanged, compared to its average volume of 78,930. The company has a current ratio of 2.72, a quick ratio of 2.47 and a debt-to-equity ratio of 30.00. Granite Real Estate Investment Trust has a 52-week low of C$45.03 and a 52-week high of C$52.69. The firm has a market cap of $2.82 billion and a price-to-earnings ratio of 4.60.

In other Granite Real Estate Investment Trust news, Senior Officer Lorne Kumer sold 2,135 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of C$63.18, for a total transaction of C$134,894.21. Following the transaction, the insider now directly owns 9,185 shares of the company’s stock, valued at C$580,329.43.

About Granite Real Estate Investment Trust

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.

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Analyst Recommendations for Granite Real Estate Investment Trust (TSE:GRT.UN)

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