National Bank Financial Forecasts Strong Price Appreciation for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock

Key Points

• National Bank Financial raised its price target on Granite REIT to C$110 (from C$102.50) and kept an "outperform" rating, implying about a 21% upside from the previous close.
• Several other brokers also bumped targets, leaving the stock with a consensus "Buy" rating and an average price target of C$96.38 (five analysts rated it Buy).
• Granite is trading at C$90.91 (down 0.9%) with a market cap of C$5.51B, a P/E of 16.09, and recent quarter results of C$2.24 EPS on C$161.76M revenue; its 12‑month range is C$60.29–C$95.00.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its price target upped by equities researchers at National Bank Financial from C$102.50 to C$110.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price target indicates a potential upside of 21.00% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. TD Securities upped their target price on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a "buy" rating in a report on Friday, February 27th. BMO Capital Markets upped their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th. Royal Bank Of Canada upped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday, February 27th. Canadian Imperial Bank of Commerce upped their target price on shares of 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 shares of Granite Real Estate Investment Trust from a "strong-buy" rating to an "outperform" rating and increased their price objective for the stock from C$93.00 to C$96.00 in a report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$96.38.

Granite Real Estate Investment Trust Trading Down 0.9%

TSE:GRT.UN traded down C$0.84 on Monday, reaching C$90.91. The stock had a trading volume of 36,763 shares, compared to its average volume of 120,412. The company has a market cap of C$5.51 billion, a price-to-earnings ratio of 16.09 and a beta of 1.29. 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 firm's fifty day moving average is C$86.90 and its two-hundred day moving average is C$82.84. Granite Real Estate Investment Trust has a 12-month low of C$60.29 and a 12-month high of C$95.00.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last released its earnings results on Wednesday, February 25th. The company reported C$2.24 earnings per share (EPS) for the quarter. The company had revenue of C$161.76 million for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. Equities analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

About Granite Real Estate Investment Trust

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.

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