Analysts Set Granite Real Estate Investment Trust (TSE:GRT.UN) PT at C$99.64

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given a consensus recommendation of “Buy” by the eight analysts that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$99.64.

Several brokerages have weighed in on GRT.UN. TD lifted their price target on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a report on Friday, May 8th. Canaccord Genuity Group increased their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Scotia raised their price objective on shares of 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. Canadian Imperial Bank of Commerce lifted their target price on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Finally, National Bank Financial upped their target price on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a report on Monday, April 20th.

Granite Real Estate Investment Trust Price Performance

GRT.UN stock opened at C$97.66 on Wednesday. Granite Real Estate Investment Trust has a twelve month low of C$72.21 and a twelve month high of C$101.50. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The stock has a market cap of C$5.93 billion, a P/E ratio of 15.15 and a beta of 1.47. The business’s 50-day moving average price is C$95.97 and its 200-day moving average price is C$90.75.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) for the quarter. The company had revenue of C$165.83 million during the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. On average, equities research analysts forecast 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.