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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$73.70 and traded as low as C$70.45. Granite Real Estate Investment Trust shares last traded at C$71.29, with a volume of 19,388 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. National Bankshares upped their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. TD Securities increased their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, Raymond James upped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Granite Real Estate Investment Trust has a consensus rating of “Buy” and a consensus target price of C$89.72.

Granite Real Estate Investment Trust Trading Up 1.1 %

The business has a 50 day simple moving average of C$74.79 and a 200-day simple moving average of C$73.70. The stock has a market capitalization of C$4.47 billion, a price-to-earnings ratio of 19.64 and a beta of 1.18. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 16th were paid a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Wednesday, November 27th. Granite Real Estate Investment Trust’s payout ratio is currently 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.