Royal Bank Of Canada Issues Positive Forecast for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target lifted by analysts at Royal Bank Of Canada from C$88.00 to C$90.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank Of Canada’s price target points to a potential upside of 14.71% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. TD Securities lifted their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$88.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial lifted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$93.00 in a research report on Monday. Scotiabank increased their target price on Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a report on Friday, August 8th. Desjardins raised their target price on Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, National Bankshares upped their price target on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Granite Real Estate Investment Trust currently has an average rating of “Buy” and a consensus price target of C$87.88.

Granite Real Estate Investment Trust Price Performance

Shares of Granite Real Estate Investment Trust stock traded up C$1.23 on Tuesday, hitting C$78.46. The company had a trading volume of 24,044 shares, compared to its average volume of 100,004. Granite Real Estate Investment Trust has a 52 week low of C$55.25 and a 52 week high of C$82.45. The company has a market cap of C$4.75 billion, a PE ratio of 16.59 and a beta of 1.61. The business has a 50-day simple moving average of C$77.91 and a 200-day simple moving average of C$73.47. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Company Profile

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.