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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$74.02 and traded as low as C$69.29. Granite Real Estate Investment Trust shares last traded at C$69.38, with a volume of 142,600 shares.

Analyst Ratings Changes

A number of research firms recently commented on GRT.UN. BMO Capital Markets increased their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. TD Securities raised their price target on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. Finally, National Bankshares lifted their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th.

Granite Real Estate Investment Trust Price Performance

The company has a 50-day moving average of C$71.77 and a two-hundred day moving average of C$74.04. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock has a market capitalization of C$4.41 billion, a PE ratio of 19.37 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.2833 per share. The ex-dividend date is Friday, January 31st. This represents a $3.40 annualized dividend and a dividend yield of 4.83%. Granite Real Estate Investment Trust’s payout ratio is currently 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.