Granite Real Estate Investment Trust (TSE:GRT.UN) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$73.92 and traded as low as C$68.96. Granite Real Estate Investment Trust shares last traded at C$69.18, with a volume of 86,893 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on GRT.UN shares. 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 research report on Monday, November 11th. National Bankshares upped their target price on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. Finally, TD Securities raised their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$89.72.

Granite Real Estate Investment Trust Trading Down 0.5 %

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 firm has a fifty day simple moving average of C$72.40 and a 200-day simple moving average of C$73.95. The firm has a market cap of C$4.27 billion, a P/E ratio of 18.77 and a beta of 1.18.

Granite Real Estate Investment Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.2833 per share. This is a positive change from Granite Real Estate Investment Trust’s previous monthly dividend of $0.28. This represents a $3.40 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend was Tuesday, December 31st. 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.