Granite Real Estate Investment Trust (TSE:GRT.UN - Get Rating) (NASDAQ:GRP.U) had its target price upped by analysts at Royal Bank of Canada from C$100.00 to C$103.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price target indicates a potential upside of 25.20% from the stock's current price.
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Several other brokerages have also recently issued reports on GRT.UN. Canaccord Genuity Group raised their price objective on Granite Real Estate Investment Trust from C$90.00 to C$97.00 in a research note on Friday. BMO Capital Markets set a C$98.00 price objective on Granite Real Estate Investment Trust and gave the stock an "outperform" rating in a research note on Monday, February 13th. Raymond James reduced their price objective on Granite Real Estate Investment Trust from C$98.00 to C$93.00 and set an "outperform" rating on the stock in a research note on Monday, November 14th. National Bankshares raised their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, TD Securities raised their price objective on Granite Real Estate Investment Trust from C$95.00 to C$100.00 and gave the stock an "action list buy" rating in a research note on Friday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Granite Real Estate Investment Trust presently has a consensus rating of "Buy" and a consensus price target of C$96.63.
Shares of GRT.UN stock traded up C$0.46 during mid-day trading on Friday, reaching C$82.27. 52,348 shares of the company were exchanged, compared to its average volume of 111,136. Granite Real Estate Investment Trust has a fifty-two week low of C$63.29 and a fifty-two week high of C$100.90. The company has a debt-to-equity ratio of 53.69, a quick ratio of 1.61 and a current ratio of 2.10. The company has a market capitalization of C$5.24 billion, a P/E ratio of 9.19 and a beta of 1.04. The business's 50 day simple moving average is C$79.97 and its 200 day simple moving average is C$75.24.
Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.
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