Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Has Average Target Price of C$102.50 According to Brokerages

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given a consensus rating of “Buy” by the seven analysts that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$102.50.

GRT.UN has been the subject of a number of research reports. Desjardins raised their target price on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Raymond James Financial dropped their price target on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. TD upped their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, National Bank Financial cut their price objective on Granite Real Estate Investment Trust from C$112.00 to C$100.00 and set an “outperform” rating for the company in a research report on Wednesday, October 21st.

Granite Real Estate Investment Trust Stock Performance

TSE:GRT.UN opened at C$84.88 on Friday. The company has a 50-day moving average of C$85.22 and a 200-day moving average of C$89.73. The firm has a market cap of C$5.27 billion, a price-to-earnings ratio of 14.04 and a beta of 1.48. 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 has a twelve month low of C$75.00 and a twelve month high of C$101.50.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its earnings results on Wednesday, August 5th. The company reported C$1.14 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 business had revenue of C$165.09 million for the quarter. Analysts forecast that Granite Real Estate Investment Trust will post 5.58 earnings per share 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.