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

Key Points

• National Bankshares has raised the target price for Granite Real Estate Investment Trust (TSE:GRT.UN) from C$85.00 to C$86.00, indicating a potential upside of approximately 11.69%.
• Multiple research firms have upgraded their price targets for Granite, with some analysts providing a consensus "Buy" rating and an average target price of C$86.69.
• Granite Real Estate Investment Trust has a market capitalization of C$4.67 billion and trades within a range of C$55.25 to C$82.45 over the past year.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its target price raised by equities researchers at National Bankshares from C$85.00 to C$86.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' price objective indicates a potential upside of 11.69% from the stock's previous close.

GRT.UN has been the subject of a number of other research reports. Scotiabank increased their target price on Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a report on Friday, August 8th. Desjardins upped their price target on Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a "buy" rating in a research report on Monday. CIBC increased their price objective on Granite Real Estate Investment Trust from C$74.00 to C$85.00 in a research report on Wednesday, June 11th. Royal Bank Of Canada increased their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Finally, 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 report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$86.69.

Granite Real Estate Investment Trust Price Performance

TSE GRT.UN traded down C$0.49 during trading hours on Wednesday, reaching C$77.00. The company's stock had a trading volume of 23,076 shares, compared to its average volume of 102,421. The firm has a market capitalization of C$4.67 billion, a price-to-earnings ratio of 14.30 and a beta of 1.60. Granite Real Estate Investment Trust has a 1-year low of C$55.25 and a 1-year high of C$82.45. 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 company's 50-day moving average is C$77.50 and its two-hundred day moving average is C$70.77.

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.

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