Granite Real Estate Investment Trust (TSE:GRT.UN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have received an average rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$99.64.

Several equities analysts recently weighed in on GRT.UN shares. National Bank Financial raised their price objective 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 report on Friday, May 8th. Scotia lifted their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 8th. Raymond James Financial boosted their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, TD increased 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 note on Friday, May 8th.

Granite Real Estate Investment Trust Trading Up 0.4%

Shares of GRT.UN opened at C$98.55 on Wednesday. Granite Real Estate Investment Trust has a twelve month low of C$72.21 and a twelve month high of C$101.50. 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 firm has a market capitalization of C$5.98 billion, a P/E ratio of 15.29 and a beta of 1.47. The firm’s 50-day moving average is C$96.21 and its two-hundred day moving average is C$90.96.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) for the quarter. The company had revenue of C$165.83 million during the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. On average, research analysts predict that Granite Real Estate Investment Trust will post 5.580574 earnings per share 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.