Canadian Imperial Bank of Commerce Boosts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$98.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective hoisted by research analysts at Canadian Imperial Bank of Commerce from C$90.00 to C$98.00 in a research report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 6.05% from the company’s current price.

Several other equities research analysts have also issued reports on GRT.UN. TD Securities lifted their price objective on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research note on Friday. Raymond James Financial cut Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from C$93.00 to C$96.00 in a report on Wednesday, January 14th. Royal Bank Of Canada boosted their price objective on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday. Finally, BMO Capital Markets raised their target price on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research note on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$93.38.

Granite Real Estate Investment Trust Price Performance

TSE:GRT.UN traded up C$2.84 during trading hours on Friday, hitting C$92.41. The stock had a trading volume of 178,935 shares, compared to its average volume of 129,348. The company has a 50 day simple moving average of C$86.13 and a two-hundred day simple moving average of C$80.68. The firm has a market capitalization of C$5.60 billion, a price-to-earnings ratio of 19.54 and a beta of 1.29. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a one year low of C$55.25 and a one year high of C$92.89.

About Granite Real Estate Investment Trust

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. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.