Scotiabank Boosts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$85.00

Key Points

• Scotiabank raised its price target for Granite Real Estate Investment Trust from C$80.00 to C$85.00, indicating a potential upside of 10.59% from the stock's previous close.
• TD Securities and CIBC also increased their price objectives for the stock to C$85.00, both giving it a "buy" rating.
• Granite Real Estate Investment Trust's stock is currently trading at C$76.86, with a market cap of C$4.82 billion and a P/E ratio of 21.17.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its target price lifted by stock analysts at Scotiabank from C$80.00 to C$85.00 in a report issued on Friday,BayStreet.CA reports. Scotiabank's price objective suggests a potential upside of 9.24% from the company's current price.

Other research analysts also recently issued research reports about the company. TD Securities increased their target price on Granite Real Estate Investment Trust from C$77.00 to C$85.00 and gave the company a "buy" rating in a report on Friday, August 8th. CIBC increased their target price on Granite Real Estate Investment Trust from C$74.00 to C$85.00 in a report on Wednesday, June 11th.

Granite Real Estate Investment Trust Stock Performance

GRT.UN stock traded up C$0.46 during trading on Friday, reaching C$77.81. The stock had a trading volume of 8,530 shares, compared to its average volume of 105,937. Granite Real Estate Investment Trust has a 52 week low of C$55.25 and a 52 week high of C$82.88. The stock's 50 day moving average is C$71.65 and its two-hundred day moving average is C$68.03. 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 firm has a market cap of C$4.88 billion, a PE ratio of 21.44 and a beta of 1.18.

Granite Real Estate Investment Trust Company Profile

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.