Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Raised to C$87.50

Key Points

• Raymond James Financial has raised its price target for Granite Real Estate Investment Trust (TSE:GRT.UN) from C$85.00 to C$87.50, indicating a potential upside of 13.84% from its current price.
• Other analysts have also increased their price targets for GRT.UN, with CIBC and TD Securities both setting targets at C$85.00, suggesting a consensus bullish outlook on the stock.
• As of the latest trading session, GRT.UN shares traded at C$76.86, with a market cap of C$4.82 billion and a price-to-earnings ratio of 21.17.

Granite Real Estate Investment Trust (TSE:GRT.UN - Free Report) NASDAQ: GRP.U had its price objective hoisted by Raymond James Financial from C$85.00 to C$87.50 in a research note released on Friday,BayStreet.CA reports.

Several other research firms have also recently weighed in on GRT.UN. Scotiabank raised their price target on Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a report on Friday, August 8th. CIBC raised their price target on Granite Real Estate Investment Trust from C$74.00 to C$85.00 in a report on Wednesday, June 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 company a "buy" rating in a report on Friday, August 8th.

Granite Real Estate Investment Trust Price Performance

TSE GRT.UN traded up C$0.46 during trading on Friday, hitting C$77.81. 8,530 shares of the stock traded hands, compared to its average volume of 105,937. The company has a market capitalization of C$4.88 billion, a P/E ratio of 21.44 and a beta of 1.18. The firm has a 50-day simple moving average of C$71.65 and a 200-day simple moving average of C$68.03. The company has a quick ratio of 1.61, a current ratio of 0.35 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.

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.