Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Target Lowered at National Bank Financial

Key Points

• National Bank Financial lowered Granite REIT’s price target from C$112 to C$100 while maintaining an “outperform” rating, implying 17.9% upside from the prior close.
• Analyst sentiment remains positive: seven analysts rate the stock “Buy,” with a consensus price target of C$102.50.
• Granite shares fell 0.9% to C$84.82, near the lower half of their C$75.00–C$101.50 52-week range. The REIT reported quarterly revenue of C$165.09 million and EPS of C$1.14.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its price target lowered by stock analysts at National Bank Financial from C$112.00 to C$100.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price target suggests a potential upside of 17.90% from the company's previous close.

Several other brokerages have also recently weighed in on GRT.UN. TD increased their price target 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 report on Friday, August 7th. Raymond James Financial cut their price target on shares of 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. Finally, Desjardins boosted their price objective on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$102.50.

Granite Real Estate Investment Trust Trading Down 0.9%

Shares of Granite Real Estate Investment Trust stock traded down C$0.77 on Wednesday, hitting C$84.82. The stock had a trading volume of 25,316 shares, compared to its average volume of 99,422. 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 has a one year low of C$75.00 and a one year high of C$101.50. The stock has a market cap of C$5.27 billion, a price-to-earnings ratio of 14.03 and a beta of 1.48. The stock's 50-day simple moving average is C$86.33 and its two-hundred day simple moving average is C$91.27.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last issued 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 company had revenue of C$165.09 million for the quarter. As a group, sell-side analysts predict that Granite Real Estate Investment Trust will post 5.58 EPS for the current 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.

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