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 price objective decreased by investment analysts at CIBC from C$110.00 to C$106.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 20.83% from the company’s current price.

A number of other equities analysts have also weighed in on GRT.UN. BMO Capital Markets upped their price objective on Granite Real Estate Investment Trust from C$112.00 to C$115.00 in a research note on Monday, March 14th. Scotiabank increased their price objective on shares of Granite Real Estate Investment Trust from C$109.00 to C$110.00 in a report on Thursday, April 28th. 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 target price on the stock in a report on Friday, March 11th. Finally, Raymond James set a C$110.00 target price on shares of Granite Real Estate Investment Trust and gave the stock an “outperform” rating in a research report on Thursday, March 10th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$108.22.

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GRT.UN stock traded up C$1.22 during trading on Friday, reaching C$87.73. The company’s stock had a trading volume of 62,228 shares, compared to its average volume of 185,101. Granite Real Estate Investment Trust has a 1 year low of C$78.90 and a 1 year high of C$105.79. The company has a quick ratio of 2.52, a current ratio of 2.96 and a debt-to-equity ratio of 46.54. The company has a market capitalization of C$5.76 billion and a P/E ratio of 4.38. The company’s fifty-day moving average is C$94.50 and its 200-day moving average is C$97.38.

Granite Real Estate Investment Trust Company Profile (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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Analyst Recommendations for Granite Real Estate Investment Trust (TSE:GRT.UN)

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