Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Expected to Rise, TD Securities Analyst Says

Key Points

• Granite Real Estate Investment Trust's price target has been raised to C$85.00 by TD Securities, indicating a potential upside of 10.59% from its previous close.
• CIBC also increased its price target on Granite Real Estate to C$85.00, reflecting growing analyst confidence in the stock.
• The stock traded up 1.8% on Friday, reaching C$76.86, with an average trading volume of 106,407 shares.

Granite Real Estate Investment Trust (TSE:GRT.UN - Free Report) NASDAQ: GRP.U had its price objective increased by TD Securities from C$77.00 to C$85.00 in a research note published on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Separately, CIBC lifted their target price on Granite Real Estate Investment Trust from C$74.00 to C$85.00 in a research note on Wednesday, June 11th.

Granite Real Estate Investment Trust Stock Up 0.6%

TSE:GRT.UN traded up C$0.46 during trading hours on Friday, hitting C$77.81. 8,530 shares of the company traded hands, compared to its average volume of 105,937. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The firm's 50-day simple moving average is C$71.65 and its 200-day simple moving average is C$68.03. Granite Real Estate Investment Trust has a one year low of C$55.25 and a one year high of C$82.88. The company has a market cap of C$4.88 billion, a PE ratio of 21.44 and a beta of 1.18.

About Granite Real Estate Investment Trust

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite's portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.