Raymond James Raises Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$92.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective boosted by investment analysts at Raymond James from C$90.00 to C$92.00 in a research note issued on Friday, BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 21.95% from the company’s current price.

GRT.UN has been the topic of a number of other research reports. Canaccord Genuity Group lowered their target price on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a report on Friday, May 10th. TD Securities upped their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, CIBC upped their target price on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a report on Friday, May 10th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$88.10.

Granite Real Estate Investment Trust Stock Down 1.3 %

Shares of TSE GRT.UN traded down C$0.97 during trading on Friday, hitting C$75.44. 23,395 shares of the company traded hands, compared to its average volume of 81,991. The business’s fifty day moving average is C$72.65 and its 200 day moving average is C$71.87. Granite Real Estate Investment Trust has a fifty-two week low of C$62.72 and a fifty-two week high of C$80.14. The firm has a market capitalization of C$4.73 billion, a price-to-earnings ratio of 20.87 and a beta of 1.17. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.

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 143 investment properties representing approximately 62.9 million square feet of leasable area.