Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective increased by investment analysts at TD Securities from C$71.00 to C$72.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 17.11% from the company’s previous close.
Other analysts have also issued research reports about the company. Desjardins increased their price target on Granite Real Estate Investment Trust from C$64.00 to C$65.00 in a report on Friday, May 10th. CIBC restated an “outperform” rating and set a C$69.00 price target on shares of Granite Real Estate Investment Trust in a report on Thursday, March 21st. BMO Capital Markets increased their price target on Granite Real Estate Investment Trust from C$60.00 to C$69.50 and gave the company a “market perform” rating in a report on Monday, March 18th. Finally, Royal Bank of Canada increased their price target on Granite Real Estate Investment Trust from C$62.00 to C$66.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of C$66.08.
GRT.UN stock traded down C$0.54 during midday trading on Wednesday, hitting C$61.48. The company’s stock had a trading volume of 57,759 shares, compared to its average volume of 78,930. Granite Real Estate Investment Trust has a 12 month low of C$45.03 and a 12 month high of C$52.69. The company has a debt-to-equity ratio of 30.00, a current ratio of 2.72 and a quick ratio of 2.47. The company has a market capitalization of $2.84 billion and a price-to-earnings ratio of 4.59.
Granite Real Estate Investment Trust Company Profile
Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.
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