Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Expected to Rise, National Bankshares Analyst Says

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target upped by equities researchers at National Bankshares from C$85.00 to C$86.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target would suggest a potential upside of 12.37% from the stock’s previous close.

Several other research firms also recently weighed in on GRT.UN. Desjardins raised their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a “buy” rating in a report on Monday. CIBC lifted their price target on shares of Granite Real Estate Investment Trust from C$74.00 to C$85.00 in a report on Wednesday, June 11th. Scotiabank lifted their price target on shares of Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a report on Friday, August 8th. Royal Bank Of Canada lifted their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Finally, Raymond James Financial lifted their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$87.50 in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$86.69.

Granite Real Estate Investment Trust Stock Performance

Shares of GRT.UN opened at C$76.53 on Wednesday. The company has a 50-day simple moving average of C$77.63 and a 200-day simple moving average of C$70.87. 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 company has a market capitalization of C$4.64 billion, a PE ratio of 14.21 and a beta of 1.60. Granite Real Estate Investment Trust has a 52-week low of C$55.25 and a 52-week high of C$82.45.

About Granite Real Estate Investment Trust

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.