Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) posted its quarterly earnings results on Wednesday. The company reported C$1.26 earnings per share for the quarter, FiscalAI reports. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. The business had revenue of C$166.56 million during the quarter.
Granite Real Estate Investment Trust Trading Up 2.8%
Shares of GRT.UN stock opened at C$87.29 on Thursday. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The stock has a market capitalization of C$5.42 billion, a price-to-earnings ratio of 14.44 and a beta of 1.48. Granite Real Estate Investment Trust has a 12-month low of C$75.00 and a 12-month high of C$101.50. The stock’s 50-day moving average price is C$85.17 and its 200-day moving average price is C$89.72.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Desjardins lifted their price objective on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the company a “buy” rating in a research report on Friday, August 7th. National Bank Financial lowered their target price on shares of Granite Real Estate Investment Trust from C$112.00 to C$100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 21st. Raymond James Financial dropped their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Finally, TD raised their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$102.50.
Get Our Latest Stock Report on GRT.UN
About Granite Real Estate Investment Trust
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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