BMO Capital Markets Forecasts Strong Price Appreciation for Granite Real Estate Investment Trust (TSE:GRT.UN) Stock

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target hoisted by research analysts at BMO Capital Markets from C$87.00 to C$97.00 in a research report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 4.97% from the company’s current price.

Other analysts also recently issued research reports about the stock. TD Securities upped their price target on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research report on Friday. Canadian Imperial Bank of Commerce boosted their price target on Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research report on Friday. Raymond James Financial cut Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from C$93.00 to C$96.00 in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$93.38.

Granite Real Estate Investment Trust Stock Performance

TSE GRT.UN traded up C$2.84 on Friday, reaching C$92.41. The stock had a trading volume of 178,935 shares, compared to its average volume of 129,348. The stock has a market cap of C$5.60 billion, a P/E ratio of 19.54 and a beta of 1.29. Granite Real Estate Investment Trust has a 12-month low of C$55.25 and a 12-month high of C$92.89. The business’s 50-day moving average price is C$86.13 and its 200 day moving average price is C$80.68. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.

About Granite Real Estate Investment Trust

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.