Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$85.00 Price Target at National Bankshares

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective dropped by research analysts at National Bankshares from C$87.00 to C$85.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 22.55% from the company’s previous close.

GRT.UN has been the subject of several other research reports. Raymond James increased their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a “strong-buy” rating in a research note on Monday, January 8th. TD Securities reduced their target price on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research report on Wednesday. Royal Bank of Canada upped their price target on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Desjardins raised their price objective on 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. Finally, Laurentian upped their target price on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Seven investment 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 company currently has a consensus rating of “Buy” and a consensus target price of C$87.33.

Granite Real Estate Investment Trust Trading Down 0.5 %

Shares of GRT.UN traded down C$0.32 during mid-day trading on Wednesday, reaching C$69.36. The stock had a trading volume of 59,573 shares, compared to its average volume of 76,676. Granite Real Estate Investment Trust has a 52-week low of C$62.72 and a 52-week high of C$86.07. The firm has a market cap of C$4.39 billion, a price-to-earnings ratio of 32.14 and a beta of 1.14. The business’s fifty day moving average is C$74.37 and its 200 day moving average is C$72.96. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61.

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.