Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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 Upgrades and Downgrades

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

Granite Real Estate Investment Trust Stock Down 1.3 %

The company’s fifty day simple moving average is C$72.00 and its 200 day simple moving average is C$74.02. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The firm has a market capitalization of C$4.35 billion, a PE ratio of 19.11 and a beta of 1.18.

Granite Real Estate Investment Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were paid a $0.2833 dividend. This represents a $3.40 annualized dividend and a yield of 4.90%. This is a boost from Granite Real Estate Investment Trust’s previous monthly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Real Estate Investment Trust’s dividend 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.