TD Securities Lowers Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$88.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective lowered by equities researchers at TD Securities from C$90.00 to C$88.00 in a research report issued on Wednesday, BayStreet.CA reports. TD Securities’ price target would indicate a potential upside of 28.13% from the stock’s previous close.

A number of other analysts also recently weighed in on GRT.UN. Royal Bank of Canada increased their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Desjardins increased their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Laurentian increased their target price on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. BMO Capital Markets increased their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Finally, National Bankshares increased their target price on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Granite Real Estate Investment Trust has a consensus rating of “Buy” and a consensus target price of C$87.33.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE:GRT.UN opened at C$68.68 on Wednesday. The company has a market capitalization of C$4.35 billion, a price-to-earnings ratio of 31.80 and a beta of 1.14. The firm’s 50 day simple moving average is C$74.24 and its 200 day simple moving average is C$72.93. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a fifty-two week low of C$62.72 and a fifty-two week high of C$85.56.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.