Granite Real Estate Investment Trust (TSE:GRT.UN) Given Consensus Recommendation of “Buy” by Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$89.00.

Several research firms recently weighed in on GRT.UN. TD Securities lifted their price target on Granite Real Estate Investment Trust from C$88.00 to C$94.00 in a research report on Wednesday, January 14th. BMO Capital Markets raised their price objective on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research report on Monday, November 10th. Raymond James Financial downgraded shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from C$93.00 to C$96.00 in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada lifted their price target on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a research report on Tuesday, November 11th.

Granite Real Estate Investment Trust Stock Performance

Granite Real Estate Investment Trust stock opened at C$88.57 on Friday. Granite Real Estate Investment Trust has a fifty-two week low of C$55.25 and a fifty-two week high of C$92.04. The stock’s 50 day simple moving average is C$83.11 and its two-hundred day simple moving average is C$79.35. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a market cap of C$5.37 billion, a price-to-earnings ratio of 18.73 and a beta of 1.29.

Granite Real Estate Investment Trust Company Profile

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.