Granite Real Estate Investment Trust (TSE:GRT.UN) Reaches New 52-Week High at $71.13

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price reached a new 52-week high on Monday . The stock traded as high as C$71.13 and last traded at C$71.05, with a volume of 10593 shares traded. The stock had previously closed at C$71.36.

A number of equities analysts recently issued reports on GRT.UN shares. CIBC upped their price target on shares of Granite Real Estate Investment Trust from C$70.00 to C$72.00 in a research note on Thursday, November 7th. TD Securities lifted their target price on shares of Granite Real Estate Investment Trust from C$73.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Scotiabank lifted their target price on shares of Granite Real Estate Investment Trust from C$71.00 to C$73.00 in a report on Monday, January 20th. Finally, Royal Bank of Canada upped their target price on shares of Granite Real Estate Investment Trust from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$70.50.

The stock’s 50 day moving average price is C$67.37 and its 200-day moving average price is C$65.05. The company has a quick ratio of 5.76, a current ratio of 6.40 and a debt-to-equity ratio of 44.07. The stock has a market capitalization of $3.85 billion and a PE ratio of 9.31.

Granite Real Estate Investment Trust Company Profile (TSE:GRT.UN)

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.

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