Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Lowered to C$90.00 at Scotiabank

Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) had its price objective reduced by stock analysts at Scotiabank from C$97.00 to C$90.00 in a report issued on Friday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 35.09% from the stock’s current price.

A number of other equities analysts have also commented on GRT.UN. TD Securities dropped their price objective on Granite Real Estate Investment Trust from C$100.00 to C$94.00 and set an “action list buy” rating on the stock in a research note on Thursday. Raymond James dropped their price objective on Granite Real Estate Investment Trust from C$112.00 to C$98.00 and set an “outperform” rating on the stock in a research note on Monday, August 15th. Royal Bank of Canada boosted their price target on Granite Real Estate Investment Trust from C$99.00 to C$100.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. National Bankshares boosted their price target on Granite Real Estate Investment Trust from C$85.00 to C$90.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Finally, CIBC lowered their price target on Granite Real Estate Investment Trust from C$102.00 to C$98.00 and set an “outperform” rating on the stock in a research note on Friday, August 12th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$97.86.

Granite Real Estate Investment Trust Stock Up 0.8%

GRT.UN traded up C$0.56 during trading on Friday, reaching C$66.62. 96,956 shares of the stock traded hands, compared to its average volume of 169,755. Granite Real Estate Investment Trust has a fifty-two week low of C$63.29 and a fifty-two week high of C$105.79. The stock’s 50-day simple moving average is C$72.04 and its two-hundred day simple moving average is C$80.82. The stock has a market cap of C$4.36 billion and a price-to-earnings ratio of 3.95. The company has a debt-to-equity ratio of 48.12, a current ratio of 2.36 and a quick ratio of 1.07.

Granite Real Estate Investment Trust Company Profile

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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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