Granite Real Estate Investment Trust (TSE:GRT.UN) Given Average Recommendation of “Buy” by Brokerages

Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$99.64.

GRT.UN has been the subject of several analyst reports. National Bank Financial upped their target price on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Canadian Imperial Bank of Commerce raised their price target on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Raymond James Financial lifted their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Canaccord Genuity Group 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 “buy” rating in a research note on Friday, May 8th. Finally, 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.

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Granite Real Estate Investment Trust Stock Up 0.1%

GRT.UN stock opened at C$99.52 on Wednesday. The stock has a market capitalization of C$6.04 billion, a P/E ratio of 15.44 and a beta of 1.47. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. Granite Real Estate Investment Trust has a one year low of C$72.21 and a one year high of C$101.50. The company has a 50 day moving average price of C$95.59 and a two-hundred day moving average price of C$90.42.

Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The company had revenue of C$165.83 million for the quarter. As a group, sell-side analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Company Profile

(Get Free Report)

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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