Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$99.64 Average PT from Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been assigned an average rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$99.64.

Several equities research analysts have issued reports on the stock. National Bank Financial lifted their target price on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Canadian Imperial Bank of Commerce raised their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. TD lifted their price objective on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Canaccord Genuity Group upped their target price on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Raymond James Financial raised their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company an “outperform” rating in a research report on Friday, May 8th.

Granite Real Estate Investment Trust Trading Up 0.2%

TSE GRT.UN opened at C$97.66 on Wednesday. The firm has a market capitalization of C$5.93 billion, a P/E ratio of 15.15 and a beta of 1.47. The business has a fifty day simple moving average of C$95.97 and a 200 day simple moving average of C$90.69. Granite Real Estate Investment Trust has a 12 month low of C$72.21 and a 12 month high of C$101.50. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share for the quarter. The company had revenue of C$165.83 million for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. On average, analysts predict that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

About Granite Real Estate Investment Trust

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.