Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Gets Price Target Cut from Royal Bank Of Canada

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price trimmed by Royal Bank Of Canada from C$110.00 to C$105.00 in a research report released on Monday,BayStreet reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently commented on the stock. Raymond James Financial decreased their price objective on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. National Bank Financial dropped their target price on shares of Granite Real Estate Investment Trust from C$112.00 to C$100.00 and set an “outperform” rating for the company in a report on Wednesday, October 21st. TD increased their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Desjardins lifted their price target on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$103.00.

Granite Real Estate Investment Trust Trading Down 0.6%

TSE:GRT.UN opened at C$85.83 on Monday. Granite Real Estate Investment Trust has a 1 year low of C$75.00 and a 1 year high of C$101.50. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a fifty day moving average price of C$84.98 and a two-hundred day moving average price of C$89.68. The stock has a market capitalization of C$5.33 billion, a price-to-earnings ratio of 13.88 and a beta of 1.36.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its quarterly earnings results on Wednesday, November 4th. The company reported C$1.26 earnings per share for the quarter. The business had revenue of C$166.56 million for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. As a group, sell-side analysts anticipate that Granite Real Estate Investment Trust will post 5.58 earnings per share 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.