Granite Real Estate Investment Trust (TSE:GRT.UN) Reaches New 1-Year High – Time to Buy?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) reached a new 52-week high on Thursday . The stock traded as high as C$98.89 and last traded at C$98.67, with a volume of 49434 shares. The stock had previously closed at C$95.80.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. National Bank Financial lifted their target price on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Raymond James Financial increased their price target 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. Canadian Imperial Bank of Commerce raised their price target on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a report on Friday, May 8th. Scotia lifted their price objective on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Finally, TD boosted their price objective on Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$99.64.

Granite Real Estate Investment Trust Trading Up 2.7%

The business’s fifty day simple moving average is C$93.79 and its 200 day simple moving average is C$88.69. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The stock has a market cap of C$5.97 billion, a P/E ratio of 15.27 and a beta of 1.45.

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