Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have earned an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$89.00.

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

Granite Real Estate Investment Trust Trading Down 0.4%

TSE:GRT.UN opened at C$88.57 on Friday. The firm has a market capitalization of C$5.37 billion, a P/E ratio of 18.73 and a beta of 1.29. 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 fifty day moving average of C$83.11 and a 200 day moving average of C$79.35. Granite Real Estate Investment Trust has a 52 week low of C$55.25 and a 52 week high of C$92.04.

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.