Raymond James Financial Issues Positive Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Key Points

• Raymond James Financial raised its price target on Granite Real Estate Investment Trust to C$103.00 from C$101.00 and kept an outperform rating, implying about 9.83% upside from the prior close.
• Other analysts also turned more bullish, with firms like Scotia, RBC, BMO, National Bank Financial, and TD lifting targets; MarketBeat says the stock now has an average Buy rating and a consensus target of C$99.64.
• The stock recently traded at C$93.78, near its 52-week high of C$95.00, after the company reported quarterly earnings of C$1.51 EPS and revenue of C$165.83 million.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its price target increased by equities research analysts at Raymond James Financial from C$101.00 to C$103.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 9.83% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Scotia boosted their target price on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a "sector outperform" rating in a report on Friday. Royal Bank Of Canada lifted their price target on shares of 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 objective on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th. National Bank Financial raised their target price on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Finally, TD lifted their target price on Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the stock a "buy" rating in a report on Friday. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$99.64.

Granite Real Estate Investment Trust Price Performance

GRT.UN stock traded up C$1.39 during midday trading on Friday, reaching C$93.78. 28,136 shares of the stock were exchanged, compared to its average volume of 119,961. Granite Real Estate Investment Trust has a 52 week low of C$63.85 and a 52 week high of C$95.00. The company has a fifty day moving average price of C$87.70 and a 200 day moving average price of C$84.02. 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 stock has a market capitalization of C$5.69 billion, a PE ratio of 16.60 and a beta of 1.34.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 EPS for the quarter. The firm had revenue of C$165.83 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. As a group, analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.

Granite Real Estate Investment Trust Company Profile

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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