Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) had its target price reduced by investment analysts at CIBC from C$102.00 to C$98.00 in a report released on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 20.57% from the company’s previous close.
GRT.UN has been the topic of several other research reports. National Bankshares dropped their target price on Granite Real Estate Investment Trust from C$115.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 20th. Scotiabank lowered their price target on Granite Real Estate Investment Trust from C$110.00 to C$97.00 in a research report on Thursday, July 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$104.00.
Granite Real Estate Investment Trust Stock Up 0.0 %
Shares of GRT.UN traded up C$0.04 during mid-day trading on Friday, hitting C$81.28. The company’s stock had a trading volume of 33,029 shares, compared to its average volume of 165,308. The company has a current ratio of 1.96, a quick ratio of 1.54 and a debt-to-equity ratio of 43.18. The company’s 50-day moving average is C$79.67 and its 200-day moving average is C$88.84. Granite Real Estate Investment Trust has a 52-week low of C$73.34 and a 52-week high of C$105.79. The firm has a market capitalization of C$5.35 billion and a price-to-earnings ratio of 3.42.
About Granite Real Estate Investment Trust
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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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Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Cut to C$98.00 & Latest News Update
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