Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$89.00 Consensus PT from Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$89.00.

Several research analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research note on Monday, November 10th. Royal Bank Of Canada raised their target price on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a report on Tuesday, November 11th. Raymond James Financial downgraded shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from C$93.00 to C$96.00 in a report on Wednesday, January 14th. Finally, TD Securities increased their price objective on shares of Granite Real Estate Investment Trust from C$88.00 to C$94.00 in a research report on Wednesday, January 14th.

Granite Real Estate Investment Trust Price Performance

Shares of Granite Real Estate Investment Trust stock opened at C$88.42 on Friday. The stock has a market cap of C$5.36 billion, a price-to-earnings ratio of 18.70 and a beta of 1.29. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a 50 day moving average price of C$83.60 and a 200-day moving average price of C$79.60. Granite Real Estate Investment Trust has a one year low of C$55.25 and a one year high of C$92.04.

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.