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

Key Points

• TD raised its target on Granite REIT from C$96.00 to C$101.00 and maintained a "buy" rating, implying roughly a 7.72% upside from the current price.
• Broad analyst support: Several firms have boosted targets recently and MarketBeat shows a consensus "Buy" rating with an average price target of C$99.64.
• Recent price and fundamentals: Shares traded at C$93.76 (up 1.5%), market cap C$5.69B, P/E 16.6; the REIT reported Q1 EPS of C$1.51, revenue C$165.83M, and a net margin of 42.5%.

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U had its target price raised by research analysts at TD from C$96.00 to C$101.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 7.72% from the company's current price.

Other analysts have also issued reports about the company. Raymond James Financial lowered Granite Real Estate Investment Trust from a "strong-buy" rating to an "outperform" rating and boosted their price objective for the company from C$93.00 to C$96.00 in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce boosted their price target on Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a report on Friday, February 27th. Royal Bank Of Canada boosted their price target on Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a report on Friday, February 27th. National Bank Financial boosted their price target on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Finally, Scotia boosted their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a "sector outperform" rating in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$99.64.

Granite Real Estate Investment Trust Stock Up 1.5%

Shares of GRT.UN traded up C$1.37 during midday trading on Friday, hitting C$93.76. The company had a trading volume of 27,536 shares, compared to its average volume of 119,961. The company's 50 day moving average price is C$87.70 and its 200 day moving average price is C$84.02. The stock has a market cap of C$5.69 billion, a price-to-earnings ratio of 16.60 and a beta of 1.34. 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 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 (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last released its earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share for the quarter. The company had revenue of C$165.83 million during the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. On average, equities research analysts predict that Granite Real Estate Investment Trust will post 5.580574 EPS for the current 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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