Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$88.00

Key Points

• Granite Real Estate Investment Trust's price target was raised by the Royal Bank of Canada from C$86.00 to C$88.00, indicating a potential upside of 15.84%.
• Other analysts, including Scotiabank and TD Securities, have also increased their price targets for Granite, with new projections ranging from C$85.00 to C$87.50.
• Granite's shares traded down 0.7%, closing at C$75.97, with a market cap of C$4.77 billion.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its target price raised by analysts at Royal Bank Of Canada from C$86.00 to C$88.00 in a report released on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 11.04% from the stock's previous close.

GRT.UN has been the subject of a number of other reports. TD Securities upped their target price on Granite Real Estate Investment Trust from C$77.00 to C$85.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Raymond James Financial upped their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$87.50 in a research note on Friday, August 8th. Scotiabank increased their target price on shares of Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a research report on Friday, August 8th. Finally, CIBC increased their target price on shares of Granite Real Estate Investment Trust from C$74.00 to C$85.00 in a research report on Wednesday, June 11th.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE GRT.UN traded up C$0.79 during midday trading on Monday, hitting C$79.25. 129,421 shares of the company's stock were exchanged, compared to its average volume of 106,460. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock's 50 day moving average price is C$72.18 and its 200-day moving average price is C$68.23. The firm has a market cap of C$4.97 billion, a P/E ratio of 21.83 and a beta of 1.18. Granite Real Estate Investment Trust has a twelve month low of C$55.25 and a twelve month high of C$82.88.

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.