Granite Real Estate Investment Trust (TSE:GRT.UN) Given New C$88.00 Price Target at Raymond James

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price lowered by equities researchers at Raymond James from C$93.00 to C$88.00 in a report issued on Friday,BayStreet.CA reports. Raymond James’ price target suggests a potential upside of 32.49% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Scotiabank lowered their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research note on Friday. TD Securities increased their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, BMO Capital Markets increased their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th.

Granite Real Estate Investment Trust Stock Up 0.4 %

Granite Real Estate Investment Trust stock traded up C$0.27 during mid-day trading on Friday, hitting C$66.42. 39,478 shares of the company’s stock were exchanged, compared to its average volume of 127,458. Granite Real Estate Investment Trust has a 1-year low of C$64.50 and a 1-year high of C$82.88. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The stock has a market cap of C$4.17 billion, a P/E ratio of 18.30 and a beta of 1.18. The stock has a 50 day moving average of C$69.20 and a two-hundred day moving average of C$73.66.

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.