Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$106.00 Price Target at Raymond James Financial

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target cut by research analysts at Raymond James Financial from C$110.00 to C$106.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 14.03% from the stock’s previous close.

A number of other research firms also recently issued reports on GRT.UN. Scotia lifted their target price on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce raised their price target on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. National Bank Financial boosted their price target on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Canaccord Genuity Group increased their price objective on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, TD raised their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research note on Friday. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, Granite Real Estate Investment Trust currently has a consensus rating of “Buy” and an average price target of C$101.82.

Granite Real Estate Investment Trust Stock Up 1.1%

GRT.UN traded up C$1.04 during trading hours on Friday, hitting C$92.96. 32,383 shares of the company’s stock were exchanged, compared to its average volume of 103,065. The stock has a market cap of C$5.64 billion, a price-to-earnings ratio of 14.43 and a beta of 1.48. Granite Real Estate Investment Trust has a 1-year low of C$74.96 and a 1-year high of C$101.50. The stock’s 50-day moving average is C$96.12 and its two-hundred day moving average is C$91.34. The company has a quick ratio of 1.61, a current ratio of 0.35 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, August 5th. The company reported C$1.16 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The firm had revenue of C$165.09 million for the quarter. Sell-side analysts predict 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 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.