Raymond James Issues Pessimistic Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target cut by equities research analysts at Raymond James from C$93.00 to C$88.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Raymond James’ price objective suggests a potential upside of 32.49% from the stock’s previous close.

A number of other research firms have also weighed in on GRT.UN. BMO Capital Markets boosted their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. TD Securities lifted their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, Scotiabank reduced their price objective on Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research report on Friday.

Granite Real Estate Investment Trust Price Performance

Shares of Granite Real Estate Investment Trust stock traded up C$0.27 during mid-day trading on Friday, reaching C$66.42. 39,478 shares of the stock traded hands, compared to its average volume of 127,458. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a fifty-two week low of C$64.50 and a fifty-two week high of C$82.88. The stock has a market capitalization of C$4.17 billion, a PE ratio of 18.30 and a beta of 1.18. The business has a 50-day moving average of C$69.20 and a 200 day moving average of C$73.66.

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.