Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Lowered to C$85.00 at Scotiabank

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target dropped by investment analysts at Scotiabank from C$87.00 to C$85.00 in a research report issued on Friday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 27.97% from the stock’s previous close.

GRT.UN has been the subject of a number of other reports. TD Securities upped their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. BMO Capital Markets boosted their target price on shares of 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 Performance

Shares of GRT.UN traded up C$0.27 during trading hours on Friday, reaching C$66.42. 39,478 shares of the company’s stock traded hands, compared to its average volume of 127,458. The business’s fifty day simple moving average is C$69.20 and its two-hundred day simple moving average is C$73.66. The firm has a market capitalization of C$4.17 billion, a price-to-earnings ratio of 18.30 and a beta of 1.18. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a twelve month low of C$64.50 and a twelve month high of C$82.88.

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.