Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Cut to C$106.00


Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) had its target price cut by CIBC from C$110.00 to C$106.00 in a research report released on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Granite Real Estate Investment Trust from C$112.00 to C$115.00 in a research report on Monday, March 14th. Raymond James set a C$110.00 price objective on shares of Granite Real Estate Investment Trust and gave the company an outperform rating in a research report on Thursday, March 10th. TD Securities raised shares of Granite Real Estate Investment Trust from a buy rating to an action list buy rating and set a C$115.00 price objective for the company in a research report on Friday, March 11th. Finally, Scotiabank lifted their target price on shares of Granite Real Estate Investment Trust from C$109.00 to C$110.00 in a research note on Thursday, April 28th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Granite Real Estate Investment Trust presently has an average rating of Buy and an average target price of C$108.22.

Shares of GRT.UN stock opened at C$87.75 on Friday. Granite Real Estate Investment Trust has a 1 year low of C$78.90 and a 1 year high of C$105.79. The firm has a fifty day moving average price of C$94.41 and a 200-day moving average price of C$97.32. The company has a debt-to-equity ratio of 46.54, a current ratio of 2.96 and a quick ratio of 2.52. The company has a market cap of C$5.76 billion and a price-to-earnings ratio of 4.40.

About Granite Real Estate Investment Trust (Get Rating)

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.

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