TD Securities Issues Positive Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price raised by investment analysts at TD Securities from C$94.00 to C$96.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 3.88% from the company’s current price.

Several other equities research analysts have also issued reports on GRT.UN. Royal Bank Of Canada increased their target price on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a report on Tuesday, November 11th. BMO Capital Markets increased their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research note on Monday, November 10th. Finally, Raymond James Financial downgraded shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from C$93.00 to C$96.00 in a research report on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$93.38.

Granite Real Estate Investment Trust Stock Performance

GRT.UN traded up C$2.84 during midday trading on Friday, reaching C$92.41. The company had a trading volume of 178,935 shares, compared to its average volume of 129,348. The business has a 50-day moving average of C$86.13 and a two-hundred day moving average of C$80.68. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 1 year low of C$55.25 and a 1 year high of C$92.89. The company has a market cap of C$5.60 billion, a P/E ratio of 19.54 and a beta of 1.29.

About Granite Real Estate Investment Trust

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.