Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$95.02 and traded as high as C$99.24. Granite Real Estate Investment Trust shares last traded at C$97.85, with a volume of 68,101 shares.
Analysts Set New Price Targets
Several equities research analysts have weighed in on GRT.UN shares. Canaccord Genuity Group increased their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a research report on Friday, May 8th. TD boosted their price objective on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Scotia upped their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce raised their target price on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Finally, National Bank Financial boosted their price target on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$99.64.
Get Our Latest Stock Analysis on Granite Real Estate Investment Trust
Granite Real Estate Investment Trust Trading Up 0.5%
Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The company had revenue of C$165.83 million during the quarter. As a group, sell-side analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current fiscal year.
Granite Real Estate Investment Trust Company Profile
Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.
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