Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$103.00 Price Target at TD

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price raised by equities research analysts at TD from C$101.00 to C$103.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s target price points to a potential upside of 10.80% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Canadian Imperial Bank of Commerce lifted their price target on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Raymond James Financial increased their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Canaccord Genuity Group raised their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Scotia boosted their target price on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Finally, National Bank Financial upped their target price on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Granite Real Estate Investment Trust presently has a consensus rating of “Buy” and an average price target of C$101.82.

Granite Real Estate Investment Trust Trading Up 1.1%

GRT.UN traded up C$1.04 during trading on Friday, reaching C$92.96. The company had a trading volume of 32,383 shares, compared to its average volume of 103,065. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The business has a 50 day simple moving average of C$96.12 and a 200-day simple moving average of C$91.34. The stock has a market cap of C$5.64 billion, a P/E ratio of 14.43 and a beta of 1.48. Granite Real Estate Investment Trust has a 52 week low of C$74.96 and a 52 week high of C$101.50.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$1.16 earnings per share for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The business had revenue of C$165.09 million for the quarter. On average, equities analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

About Granite Real Estate Investment Trust

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.