Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$73.83 and traded as low as C$67.43. Granite Real Estate Investment Trust shares last traded at C$67.96, with a volume of 73,315 shares traded.

Analyst Ratings Changes

GRT.UN has been the subject of a number of recent analyst reports. TD Securities increased their target price on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. BMO Capital Markets increased their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th.

Granite Real Estate Investment Trust Stock Down 0.2 %

The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a market cap of C$4.26 billion, a price-to-earnings ratio of 18.72 and a beta of 1.18. The firm’s 50-day simple moving average is C$69.55 and its two-hundred day simple moving average is C$73.83.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were given a $0.2833 dividend. This represents a $3.40 annualized dividend and a yield of 5.00%. The ex-dividend date was Friday, January 31st. Granite Real Estate Investment Trust’s payout ratio is presently 90.91%.

Granite Real Estate Investment Trust Company Profile

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.