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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its price target decreased by research 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 points to a potential upside of 27.97% from the company’s previous close.

Several other equities research analysts have also commented on the stock. BMO Capital Markets upped their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. TD Securities upped their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th.

Granite Real Estate Investment Trust Stock Up 0.4 %

TSE GRT.UN traded up C$0.27 during midday trading on Friday, hitting C$66.42. 39,478 shares of the company traded hands, compared to its average volume of 127,458. The company’s 50-day simple moving average is C$69.20 and its 200-day simple moving average is C$73.66. The company has a market cap of C$4.17 billion, a PE 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 52 week low of C$64.50 and a 52 week 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.