Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$88.00 Price Target at TD Securities

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lifted by stock analysts at TD Securities from C$85.00 to C$88.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 13.59% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Desjardins increased their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Scotiabank increased their price objective on Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a report on Friday, August 8th. Raymond James Financial lifted their price objective on Granite Real Estate Investment Trust from C$85.00 to C$87.50 in a research report on Friday, August 8th. National Bankshares upped their target price on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their price target on Granite Real Estate Investment Trust from C$86.00 to C$88.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$87.06.

Granite Real Estate Investment Trust Stock Down 0.6%

TSE:GRT.UN traded down C$0.50 on Friday, hitting C$77.47. 82,024 shares of the company’s stock traded hands, compared to its average volume of 100,619. The company has a market cap of C$4.69 billion, a PE ratio of 14.38 and a beta of 1.61. Granite Real Estate Investment Trust has a 1 year low of C$55.25 and a 1 year high of C$82.45. 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 firm has a 50-day moving average price of C$77.94 and a 200-day moving average price of C$73.08.

Granite Real Estate Investment Trust Company Profile

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.