Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$73.08 and traded as low as C$68.53. Granite Real Estate Investment Trust shares last traded at C$68.70, with a volume of 77,620 shares changing hands.

Analysts Set New Price Targets

GRT.UN has been the topic of a number of recent research reports. Raymond James dropped 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. Scotiabank reduced their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a report on Friday, February 28th.

Granite Real Estate Investment Trust Trading Up 0.1 %

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 company has a market cap of C$4.26 billion, a price-to-earnings ratio of 18.72 and a beta of 1.18. The company’s fifty day moving average is C$68.39 and its two-hundred day moving average is C$72.91.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were issued a $0.2833 dividend. This represents a $3.40 annualized dividend and a yield of 5.00%. The ex-dividend date was Friday, February 28th. Granite Real Estate Investment Trust’s payout ratio is 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.