Granite Real Estate Investment Trust (TSE:GRT.UN) PT Lowered to C$86.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective reduced by equities research analysts at Royal Bank of Canada from C$97.00 to C$86.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 28.42% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. TD Securities lowered their price objective on Granite Real Estate Investment Trust from C$97.00 to C$95.00 and set an “action list buy” rating for the company in a research report on Friday, August 11th. National Bankshares lowered their price objective on Granite Real Estate Investment Trust from C$98.00 to C$90.00 in a research report on Tuesday, July 18th. Scotiabank lowered their price objective on Granite Real Estate Investment Trust from C$91.00 to C$88.00 and set an “outperform” rating for the company in a research report on Thursday, October 19th. BMO Capital Markets lowered their price target on Granite Real Estate Investment Trust from C$91.00 to C$84.00 and set an “outperform” rating for the company in a research report on Friday, October 20th. Finally, Raymond James lowered their price target on Granite Real Estate Investment Trust from C$94.00 to C$90.00 and set a “strong-buy” rating for the company in a research report on Monday, October 23rd. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$88.33.

Granite Real Estate Investment Trust Trading Up 4.6 %

Shares of TSE:GRT.UN opened at C$66.97 on Monday. Granite Real Estate Investment Trust has a 12-month low of C$62.72 and a 12-month high of C$88.58. The business’s fifty day simple moving average is C$70.37 and its 200-day simple moving average is C$75.49. The company has a market capitalization of C$4.27 billion, a PE ratio of -31.29 and a beta of 1.09. The company has a current ratio of 0.30, a quick ratio of 1.61 and a debt-to-equity ratio of 57.73.

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.