Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$100.00 at Royal Bank Of Canada

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price raised by Royal Bank Of Canada from C$90.00 to C$100.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank Of Canada’s price objective would indicate a potential upside of 8.21% from the stock’s previous close.

GRT.UN has been the topic of a number of other reports. BMO Capital Markets lifted their price objective on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a report on Monday, November 10th. 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 company from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. Finally, TD Securities increased their price objective on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$93.38.

Granite Real Estate Investment Trust Price Performance

Shares of Granite Real Estate Investment Trust stock traded up C$2.84 during trading on Friday, hitting C$92.41. 178,935 shares of the company’s stock traded hands, compared to its average volume of 129,348. The company has a market cap of C$5.60 billion, a PE ratio of 19.54 and a beta of 1.29. The firm’s fifty day moving average price is C$86.13 and its 200 day moving average price is C$80.68. Granite Real Estate Investment Trust has a twelve month low of C$55.25 and a twelve month high of C$92.89. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

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.