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

Key Points

• Granite Real Estate Investment Trust has a consensus “Buy” rating from seven analysts, with an average 12-month price target of C$102.50 versus a recent share price of C$84.57.
• Recent analyst targets were mixed: TD and Desjardins raised their objectives to C$103 and C$108, while Raymond James and National Bank Financial lowered theirs to C$106 and C$100, respectively.
• Granite reported quarterly EPS of C$1.14 and revenue of C$165.09 million. The REIT owns 147 logistics, warehouse and industrial properties totaling approximately 62.6 million square feet across North America and Europe.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U has earned a consensus rating of "Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$102.50.

A number of research firms have recently issued reports 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 stock a "buy" rating in a research report on Friday, August 7th. 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. Raymond James Financial dropped their price objective 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 research note on Friday, August 7th. Finally, National Bank Financial cut their target price on shares of 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 Up 0.3%

Shares of Granite Real Estate Investment Trust stock opened at C$84.57 on Friday. The stock has a 50-day moving average price of C$85.54 and a 200 day moving average price of C$89.76. The company has a market cap of C$5.25 billion, a P/E ratio of 13.99 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 1 year low of C$75.00 and a 1 year high of C$101.50.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last announced its quarterly earnings data on Wednesday, August 5th. The company reported C$1.14 EPS for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. The firm had revenue of C$165.09 million during the quarter. As a group, analysts expect that Granite Real Estate Investment Trust will post 5.58 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.