TD Securities Lowers Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$88.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective decreased by analysts at TD Securities from C$90.00 to C$88.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. TD Securities’ price target would suggest a potential upside of 28.13% from the stock’s current price.

A number of other equities analysts have also weighed in on GRT.UN. Raymond James upped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 8th. BMO Capital Markets increased their price objective on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. National Bankshares boosted their target price on shares of Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Desjardins increased their price target on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, 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 research report on Friday, March 1st. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$87.33.

Granite Real Estate Investment Trust Price Performance

Shares of TSE:GRT.UN opened at C$68.68 on Wednesday. The company has a debt-to-equity ratio of 58.81, a quick ratio of 1.61 and a current ratio of 0.40. The firm has a fifty day moving average price of C$74.24 and a 200 day moving average price of C$72.93. Granite Real Estate Investment Trust has a fifty-two week low of C$62.72 and a fifty-two week high of C$85.56. The firm has a market cap of C$4.35 billion, a price-to-earnings ratio of 31.80 and a beta of 1.14.

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.