Granite Real Estate Investment Trust (TSE:GRT.UN) Given Consensus Rating of “Buy” by Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have earned a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is C$93.38.

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

Granite Real Estate Investment Trust Price Performance

GRT.UN stock opened at C$81.98 on Monday. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The company’s 50 day simple moving average is C$87.01 and its 200-day simple moving average is C$81.78. Granite Real Estate Investment Trust has a 12 month low of C$55.25 and a 12 month high of C$92.89. The firm has a market capitalization of C$4.97 billion, a PE ratio of 14.51 and a beta of 1.23.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its quarterly earnings data on Wednesday, February 25th. The company reported C$2.24 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The firm had revenue of C$161.76 million during the quarter. Equities analysts expect that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal year.

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.