Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$105.00 Price Target at Canaccord Genuity Group

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lifted by analysts at Canaccord Genuity Group from C$100.00 to C$105.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 11.99% from the stock’s current price.

GRT.UN has been the subject of several other reports. TD Securities raised their target price on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada raised their target price on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research note on Friday, February 27th. BMO Capital Markets raised their target price on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research note on Friday, February 27th. Raymond James Financial downgraded Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce raised their target price on Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research note on Friday, February 27th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Granite Real Estate Investment Trust has a consensus rating of “Buy” and a consensus target price of C$99.64.

Granite Real Estate Investment Trust Trading Up 1.5%

Granite Real Estate Investment Trust stock traded up C$1.37 during trading hours on Friday, reaching C$93.76. 27,536 shares of the company’s stock were exchanged, compared to its average volume of 119,961. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The firm’s 50 day simple moving average is C$87.70 and its 200 day simple moving average is C$84.02. Granite Real Estate Investment Trust has a twelve month low of C$63.85 and a twelve month high of C$95.00. The firm has a market capitalization of C$5.69 billion, a PE ratio of 16.60 and a beta of 1.34.

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