Scotia Forecasts Strong Price Appreciation for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective upped by research analysts at Scotia from C$100.00 to C$105.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotia’s price objective would suggest a potential upside of 11.99% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. TD Securities increased their price target on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce increased their price target on Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research report on Friday, February 27th. Royal Bank Of Canada increased their price target on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research report on Friday, February 27th. Canaccord Genuity Group increased their price target on 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. Finally, Raymond James Financial downgraded Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from C$93.00 to C$96.00 in a research report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Granite Real Estate Investment Trust has an average rating of “Buy” and an average target price of C$99.64.

Granite Real Estate Investment Trust Stock Performance

TSE GRT.UN traded up C$1.37 during mid-day trading on Friday, reaching C$93.76. 27,536 shares of the stock were exchanged, compared to its average volume of 119,961. The business’s 50 day moving average is C$87.70 and its 200-day moving average is C$84.02. Granite Real Estate Investment Trust has a 1 year low of C$63.85 and a 1 year high of C$95.00. The company has a market capitalization of C$5.69 billion, a P/E ratio of 16.60 and a beta of 1.34. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 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$165.83 million for the quarter. On average, equities research analysts forecast that Granite Real Estate Investment Trust will post 5.580574 EPS 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.