National Bankshares Raises Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target to C$93.50

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lifted by analysts at National Bankshares from C$85.00 to C$93.50 in a note issued to investors on Wednesday, BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 17.94% from the stock’s previous close.

Several other research analysts have also commented on GRT.UN. TD Securities upped their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Raymond James upped their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$88.95.

Granite Real Estate Investment Trust Trading Down 0.5 %

Shares of TSE:GRT.UN traded down C$0.42 during midday trading on Wednesday, hitting C$79.28. 39,101 shares of the stock traded hands, compared to its average volume of 81,212. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The stock has a market capitalization of C$4.97 billion, a PE ratio of 21.84 and a beta of 1.18. Granite Real Estate Investment Trust has a one year low of C$62.72 and a one year high of C$82.88. The business’s 50 day moving average is C$76.55 and its two-hundred day moving average is C$72.76.

About Granite Real Estate Investment Trust

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 143 investment properties representing approximately 62.9 million square feet of leasable area.