Granite Real Estate Investment Trust’s (GRT.UN) “Outperform” Rating Reaffirmed at National Bank Financial

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)‘s stock had its “outperform” rating reiterated by stock analysts at National Bank Financial in a research note issued on Thursday, Stock Target Advisor reports. They currently have a C$90.00 price objective on the stock. National Bank Financial’s target price would indicate a potential upside of 9.22% from the company’s previous close.

GRT.UN has been the topic of several other reports. Raymond James raised their price objective on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company an “outperform” rating in a research note on Thursday. National Bankshares set a C$90.00 price objective on Granite Real Estate Investment Trust and gave the company an “outperform” rating in a research note on Thursday. TD Securities raised their price objective on Granite Real Estate Investment Trust from C$89.00 to C$92.00 and gave the company a “buy” rating in a research note on Thursday. CIBC raised their price objective on Granite Real Estate Investment Trust from C$85.00 to C$87.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a C$84.00 price objective on shares of Granite Real Estate Investment Trust in a research note on Thursday, May 6th. Seven equities research analysts have rated the stock with a buy rating, Granite Real Estate Investment Trust presently has a consensus rating of “Buy” and an average price target of C$88.89.

TSE:GRT.UN traded up C$1.22 during trading hours on Thursday, hitting C$82.40. The company’s stock had a trading volume of 220,179 shares, compared to its average volume of 165,606. The stock has a fifty day simple moving average of C$79.44. The stock has a market capitalization of C$5.08 billion and a P/E ratio of 8.79. The company has a debt-to-equity ratio of 49.29, a current ratio of 4.55 and a quick ratio of 4.41. Granite Real Estate Investment Trust has a twelve month low of C$64.38 and a twelve month high of C$82.52.

About Granite Real Estate Investment Trust

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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