Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Cut to C$85.00 by Analysts at National Bankshares

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective dropped by National Bankshares from C$87.00 to C$85.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 23.76% from the company’s current price.

A number of other research firms also recently commented on GRT.UN. Royal Bank of Canada upped their price objective on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Laurentian upped their price objective on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Raymond James boosted their target price on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a “strong-buy” rating in a research note on Monday, January 8th. Desjardins boosted their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$87.33.

Granite Real Estate Investment Trust Trading Down 0.8 %

GRT.UN stock opened at C$68.68 on Wednesday. The business has a fifty day moving average of C$74.24 and a 200-day moving average of C$72.93. The company has a market cap of C$4.35 billion, a P/E ratio of 31.80 and a beta of 1.14. The company has a quick ratio of 1.61, a current ratio of 0.40 and a debt-to-equity ratio of 58.81. Granite Real Estate Investment Trust has a twelve month low of C$62.72 and a twelve month high of C$85.56.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.