Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) PT at C$99.64

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price target 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 research analyst reports. Raymond James Financial boosted their target price on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. TD raised their price target on Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Scotia lifted their price target 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 note on Friday, May 8th. National Bank Financial lifted their price target 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. Finally, Canadian Imperial Bank of Commerce boosted 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.

Granite Real Estate Investment Trust Price Performance

GRT.UN stock opened at C$97.22 on Friday. The firm has a 50 day moving average of C$94.05 and a 200-day moving average of C$88.89. The company has a market cap of C$5.90 billion, a price-to-earnings ratio of 15.09 and a beta of 1.45. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 12-month low of C$69.69 and a 12-month high of C$98.91.

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

Granite Real Estate Investment Trust Company Profile

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.