Granite Real Estate Investment Trust (TSE:GRT.UN) Price Target Lowered to C$75.00 at Scotiabank

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) had its target price dropped by research analysts at Scotiabank from C$85.00 to C$75.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 29.47% from the stock’s current price.

Separately, Raymond James reduced their price objective on shares of Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research note on Friday, February 28th.

Granite Real Estate Investment Trust Stock Down 2.7 %

TSE GRT.UN traded down C$1.61 during trading on Tuesday, reaching C$57.93. The company’s stock had a trading volume of 103,620 shares, compared to its average volume of 130,002. 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 capitalization of C$3.63 billion, a PE ratio of 15.96 and a beta of 1.18. Granite Real Estate Investment Trust has a 1-year low of C$55.25 and a 1-year high of C$82.88. The business has a 50-day moving average price of C$67.75 and a 200-day moving average price of C$72.26.

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.