Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Passes Below 200 Day Moving Average – What’s Next?

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GRT.UN. BMO Capital Markets raised their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. 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.

Granite Real Estate Investment Trust Trading Down 0.2 %

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$4.26 billion, a P/E ratio of 18.72 and a beta of 1.18. The stock’s fifty day moving average price is C$69.55 and its two-hundred day moving average price is C$73.83.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 14th were given a dividend of $0.2833 per share. 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 dividend payout ratio (DPR) is 90.91%.

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.