Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$73.83 and traded as low as C$67.43. Granite Real Estate Investment Trust shares last traded at C$67.96, with a volume of 73,315 shares trading hands.

Analyst Upgrades and Downgrades

GRT.UN has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. TD Securities increased their price target on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th.

Granite Real Estate Investment Trust Trading Down 0.2 %

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 business’s fifty day simple moving average is C$69.55 and its two-hundred day simple moving average is C$73.83. The stock has a market capitalization of C$4.26 billion, a P/E ratio of 18.72 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were issued a $0.2833 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Friday, January 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 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.