TD Securities Cuts Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$71.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price objective reduced by investment analysts at TD Securities from C$72.00 to C$71.00 in a research report issued on Friday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 14.18% from the stock’s previous close.

Separately, Desjardins increased their target price on Granite Real Estate Investment Trust from C$64.00 to C$65.00 in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Granite Real Estate Investment Trust has an average rating of “Buy” and a consensus target price of C$68.30.

Granite Real Estate Investment Trust stock traded up C$1.17 during trading on Friday, hitting C$62.18. The company’s stock had a trading volume of 63,274 shares, compared to its average volume of 78,930. The stock has a market capitalization of $2.85 billion and a PE ratio of 6.03. The stock has a fifty day moving average price of C$61.40. Granite Real Estate Investment Trust has a 1-year low of C$52.37 and a 1-year high of C$64.66. The company has a debt-to-equity ratio of 50.15, a current ratio of 8.06 and a quick ratio of 7.47.

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.

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Analyst Recommendations for Granite Real Estate Investment Trust (TSE:GRT.UN)

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