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Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Granite Real Estate Investment Trust logo with Real Estate background

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.
  • Want stock alerts on Granite Real Estate Investment Trust? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its price target increased by investment analysts at Royal Bank Of Canada from C$86.00 to C$88.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 12.12% from the stock's current price.

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

Check Out Our Latest Analysis on Granite Real Estate Investment Trust

Granite Real Estate Investment Trust Stock Up 0.4%

GRT.UN traded up C$0.29 during trading on Monday, hitting C$78.49. 16,025 shares of the company's stock traded hands, compared to its average volume of 105,889. The company's 50 day simple moving average is C$71.83 and its two-hundred day simple moving average is C$68.10. 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 12-month low of C$55.25 and a 12-month high of C$82.88. The stock has a market capitalization of C$4.92 billion, a price-to-earnings ratio of 21.62 and a beta of 1.18.

About Granite Real Estate Investment Trust

(Get Free Report)

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.

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