Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

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

Analyst Ratings Changes

Several equities research analysts have commented on GRT.UN shares. Scotiabank dropped their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research note on Friday, February 28th. Raymond James dropped their price target on shares of Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research report on Friday, February 28th.

Granite Real Estate Investment Trust Stock Performance

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 firm’s fifty day moving average is C$68.42 and its 200 day moving average is C$73.08. The company has a market cap of C$4.31 billion, a PE ratio of 18.93 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were paid a dividend of $0.2833 per share. The ex-dividend date was Friday, February 28th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.95%. Granite Real Estate Investment Trust’s dividend 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.