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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has received an average recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$99.64.

GRT.UN has been the topic of a number of recent research reports. National Bank Financial upped their target price on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Scotia upped their price objective on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. TD lifted 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 report on Friday, May 8th. Canadian Imperial Bank of Commerce upped their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. Finally, Canaccord Genuity Group raised their price objective on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 8th.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE:GRT.UN opened at C$95.80 on Friday. Granite Real Estate Investment Trust has a 52-week low of C$69.05 and a 52-week high of C$98.29. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The stock has a market cap of C$5.82 billion, a price-to-earnings ratio of 14.87 and a beta of 1.45. The business has a 50-day moving average price of C$93.79 and a 200-day moving average price of C$88.69.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 EPS for the quarter. The business had revenue of C$165.83 million for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. Equities analysts predict that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

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 147 investment properties representing approximately 62.6 million square feet of leasable area.