Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Stock technical breakout: Granite Real Estate Investment Trust crossed above its 200‑day moving average, trading as high as C$86.85 and last at C$86.38 versus the 200‑day MA of C$81.34.
• Analyst upgrades and consensus: Multiple brokerages (TD, RBC, BMO, CIBC, etc.) raised targets and ratings, leaving a consensus Buy rating with a consensus price target of C$93.38.
• Valuation and balance-sheet snapshot: The REIT has a market cap of C$5.23 billion, a P/E of 15.29 and a debt‑to‑equity ratio of 57.74, with a 50‑day MA near C$87.50.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U's stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$81.34 and traded as high as C$86.85. Granite Real Estate Investment Trust shares last traded at C$86.38, with a volume of 115,636 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on GRT.UN. TD Securities raised their target price on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Royal Bank Of Canada upped their target price on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday, February 27th. BMO Capital Markets increased their price target on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce raised their price target on Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a report on Friday, February 27th. Finally, Raymond James Financial lowered Granite Real Estate Investment Trust from a "strong-buy" rating to an "outperform" rating and boosted their price objective for the company from C$93.00 to C$96.00 in a research report on Wednesday, January 14th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$93.38.

Granite Real Estate Investment Trust Stock Performance

The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The company's 50-day moving average is C$87.50 and its two-hundred day moving average is C$81.34. The stock has a market capitalization of C$5.23 billion, a P/E ratio of 15.29 and a beta of 1.23.

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. The vast majority of the company's assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.

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.