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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed 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 traded.

Wall Street Analyst Weigh In

GRT.UN has been the subject of several recent analyst reports. Scotiabank dropped their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a report on Friday, February 28th. Raymond James lowered their price objective on 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 debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock has a market capitalization of C$4.26 billion, a PE ratio of 18.72 and a beta of 1.18. The firm has a fifty day moving average price of C$68.39 and a two-hundred day moving average price of C$72.91.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were given a $0.2833 dividend. The ex-dividend date was Friday, February 28th. This represents a $3.40 annualized dividend and a yield of 5.00%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 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.