TD Securities Lowers Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$88.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target reduced by equities researchers at TD Securities from C$90.00 to C$88.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. TD Securities’ price objective indicates a potential upside of 26.87% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Raymond James upped their price target on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a “strong-buy” rating in a research report on Monday, January 8th. BMO Capital Markets increased their target price on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Desjardins boosted their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Laurentian increased their price objective on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, National Bankshares boosted their target price on shares of Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$87.33.

Granite Real Estate Investment Trust Trading Down 0.5 %

Shares of TSE:GRT.UN traded down C$0.32 during mid-day trading on Wednesday, reaching C$69.36. 59,573 shares of the company’s stock were exchanged, compared to its average volume of 76,676. The firm has a market capitalization of C$4.39 billion, a price-to-earnings ratio of 32.11 and a beta of 1.14. Granite Real Estate Investment Trust has a twelve month low of C$62.72 and a twelve month high of C$86.07. The business’s fifty day moving average price is C$74.37 and its 200-day moving average price is C$72.96. The company has a debt-to-equity ratio of 58.81, a quick ratio of 1.61 and a current ratio of 0.40.

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.