Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Cut to C$85.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price reduced by equities researchers at National Bankshares from C$87.00 to C$85.00 in a report released on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 23.76% from the company’s previous close.

A number of other analysts have also recently issued reports on GRT.UN. TD Securities decreased their target price on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a report on Wednesday. Laurentian boosted their target price on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Royal Bank of Canada boosted their price target on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. BMO Capital Markets boosted their price target on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Finally, Desjardins boosted their price target 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. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Granite Real Estate Investment Trust currently has a consensus rating of “Buy” and an average target price of C$87.33.

Granite Real Estate Investment Trust Stock Down 0.8 %

GRT.UN opened at C$68.68 on Wednesday. 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 has a 12 month low of C$62.72 and a 12 month high of C$85.56. The stock has a market capitalization of C$4.35 billion, a price-to-earnings ratio of 31.80 and a beta of 1.14. The business has a 50-day moving average of C$74.24 and a two-hundred day moving average of C$72.93.

About Granite Real Estate Investment Trust

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.