Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Average Recommendation of “Buy” from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have received an average recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$99.64.

GRT.UN has been the subject of a number of research reports. Canadian Imperial Bank of Commerce boosted their target price on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a report on Friday, May 8th. National Bank Financial lifted their price target on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Raymond James Financial boosted 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 note on Friday, May 8th. Canaccord Genuity Group increased 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 report on Friday, May 8th. Finally, TD raised their target price on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a research note on Friday, May 8th.

Granite Real Estate Investment Trust Trading Up 0.1%

Shares of GRT.UN opened at C$99.52 on Wednesday. Granite Real Estate Investment Trust has a twelve month low of C$72.21 and a twelve month high of C$101.50. The firm has a market capitalization of C$6.04 billion, a P/E ratio of 15.44 and a beta of 1.47. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The stock’s fifty day simple moving average is C$95.59 and its 200 day simple moving average is C$90.42.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 EPS for the quarter. The company had revenue of C$165.83 million during the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. On average, equities research analysts forecast that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current year.

Granite Real Estate Investment Trust Company Profile

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.