National Bank Financial Forecasts Strong Price Appreciation for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock
by Renee Jackson · The Cerbat GemGranite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) had its target price raised by National Bank Financial from C$102.50 to C$110.00 in a report released on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price points to a potential upside of 21.00% from the company’s current price.
Several other analysts also recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce increased their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research report on Friday, February 27th. Raymond James Financial downgraded shares of Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from C$93.00 to C$96.00 in a research report on Wednesday, January 14th. TD Securities increased their price objective on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, BMO Capital Markets increased their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$96.38.
Read Our Latest Stock Analysis on GRT.UN
Granite Real Estate Investment Trust Trading Down 0.9%
TSE GRT.UN traded down C$0.84 during mid-day trading on Monday, hitting C$90.91. The company’s stock had a trading volume of 36,763 shares, compared to its average volume of 120,412. Granite Real Estate Investment Trust has a 52-week low of C$60.29 and a 52-week high of C$95.00. The stock’s fifty day simple moving average is C$86.90 and its two-hundred day simple moving average is C$82.84. 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 firm has a market capitalization of C$5.51 billion, a P/E ratio of 16.09 and a beta of 1.29.
Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) last posted its quarterly earnings results on Wednesday, February 25th. The company reported C$2.24 EPS for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The firm had revenue of C$161.76 million for the quarter. Research analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.
About Granite Real Estate Investment Trust
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.