Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$108.00 at Desjardins

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price boosted by stock analysts at Desjardins from C$106.00 to C$108.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 16.18% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. TD increased their target price on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research note on Friday. National Bank Financial boosted their price target on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Scotia upped their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a report on Friday, May 8th. Raymond James Financial increased their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Canaccord Genuity Group lifted their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, Granite Real Estate Investment Trust currently has a consensus rating of “Buy” and an average price target of C$101.82.

Granite Real Estate Investment Trust Stock Up 1.1%

Shares of TSE:GRT.UN traded up C$1.04 during midday trading on Friday, hitting C$92.96. 32,383 shares of the company’s stock traded hands, compared to its average volume of 103,065. The firm’s fifty day moving average price is C$96.12 and its two-hundred day moving average price is C$91.34. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. Granite Real Estate Investment Trust has a twelve month low of C$74.96 and a twelve month high of C$101.50. The company has a market cap of C$5.64 billion, a PE ratio of 14.43 and a beta of 1.48.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The firm had revenue of C$165.09 million during the quarter. On average, equities research analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

About Granite Real Estate Investment Trust

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.