TD Securities Cuts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$77.00

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its price target cut by research analysts at TD Securities from C$87.00 to C$77.00 in a report issued on Monday,BayStreet.CA reports. TD Securities' price target indicates a potential upside of 22.05% from the company's previous close.

Other analysts have also issued reports about the company. Scotiabank lowered their price objective on Granite Real Estate Investment Trust from C$85.00 to C$75.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Raymond James lowered their price target on Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a report on Friday, February 28th.

Granite Real Estate Investment Trust Stock Down 0.1 %

Shares of TSE:GRT.UN traded down C$0.06 during midday trading on Monday, hitting C$63.09. 59,460 shares of the company's stock traded hands, compared to its average volume of 130,313. The firm's fifty day moving average price is C$65.13 and its two-hundred day moving average price is C$70.14. 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 has a twelve month low of C$55.25 and a twelve month high of C$82.88. The company has a market cap of C$3.96 billion, a PE ratio of 17.38 and a beta of 1.18.

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 143 investment properties representing approximately 62.9 million square feet of leasable area.