TD Securities Boosts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$94.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target hoisted by investment analysts at TD Securities from C$88.00 to C$94.00 in a research note issued on Wednesday,BayStreet.CA reports. TD Securities’ target price would indicate a potential upside of 8.08% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. National Bankshares boosted their target price on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a report on Tuesday, November 11th. BMO Capital Markets increased their target price on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a report on Monday, November 10th. Desjardins boosted their price target on shares of Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, Raymond James Financial increased their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$93.00 in a research note on Monday, November 10th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$89.00.

Granite Real Estate Investment Trust Stock Up 0.1%

Shares of GRT.UN traded up C$0.06 during midday trading on Wednesday, hitting C$86.97. The stock had a trading volume of 39,299 shares, compared to its average volume of 82,833. The firm has a market cap of C$5.27 billion, a price-to-earnings ratio of 18.39 and a beta of 1.43. The company has a 50 day simple moving average of C$79.15 and a two-hundred day simple moving average of C$77.30. Granite Real Estate Investment Trust has a twelve month low of C$55.25 and a twelve month high of C$88.06. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

About Granite Real Estate Investment Trust

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.