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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given a consensus rating of “Buy” by the six research firms that are covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$93.38.

Several analysts recently weighed in on GRT.UN shares. Canadian Imperial Bank of Commerce lifted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research report on Friday, February 27th. BMO Capital Markets lifted their price target on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th. Royal Bank Of Canada increased their price objective on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday, February 27th. TD Securities lifted their target price on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Raymond James Financial lowered Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from C$93.00 to C$96.00 in a research report on Wednesday, January 14th.

Granite Real Estate Investment Trust Stock Performance

GRT.UN stock opened at C$89.15 on Thursday. The stock’s fifty day moving average is C$86.84 and its two-hundred day moving average is C$81.05. The stock has a market capitalization of C$5.40 billion, a price-to-earnings ratio of 15.78 and a beta of 1.29. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. Granite Real Estate Investment Trust has a 1 year low of C$55.25 and a 1 year high of C$92.89.

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. 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.