Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price hoisted by equities research analysts at TD Securities from C$72.00 to C$73.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 10.76% from the company’s previous close.

Several other analysts have also recently commented on GRT.UN. Canaccord Genuity upgraded Granite Real Estate Investment Trust from a “hold” rating to a “buy” rating and raised their target price for the company from C$65.00 to C$70.00 in a research report on Wednesday, September 4th. CIBC raised their target price on Granite Real Estate Investment Trust from C$69.00 to C$70.00 in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada raised their target price on Granite Real Estate Investment Trust from C$66.00 to C$67.00 in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of C$69.92.

GRT.UN traded down C$0.17 during trading hours on Thursday, hitting C$65.91. The company’s stock had a trading volume of 334,864 shares, compared to its average volume of 78,930. Granite Real Estate Investment Trust has a fifty-two week low of C$52.69 and a fifty-two week high of C$67.35. The company has a current ratio of 7.26, a quick ratio of 6.58 and a debt-to-equity ratio of 46.62. The firm has a market capitalization of $3.27 billion and a PE ratio of 7.75. The company has a 50-day simple moving average of C$64.99 and a 200 day simple moving average of C$62.68.

About Granite Real Estate Investment Trust

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.

Further Reading: Hold Rating

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

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