Analysts Set Granite Real Estate Investment Trust (TSE:GRT.UN) PT at C$93.38

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$93.38.

Several research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce boosted their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a report on Friday, February 27th. Raymond James Financial lowered shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. BMO Capital Markets lifted their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research report on Friday, February 27th. TD Securities boosted their target price on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada upped their target price on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday, February 27th.

Granite Real Estate Investment Trust Stock Performance

TSE GRT.UN opened at C$86.07 on Thursday. The company has a fifty day moving average price of C$87.21 and a 200-day moving average price of C$81.23. The firm has a market cap of C$5.22 billion, a price-to-earnings ratio of 15.24 and a beta of 1.23. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a 1 year low of C$55.25 and a 1 year high of C$92.89.

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.