Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Passes Below 200-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 Thursday . The stock has a 200-day moving average of C$73.70 and traded as low as C$70.45. Granite Real Estate Investment Trust shares last traded at C$71.29, with a volume of 19,388 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GRT.UN shares. TD Securities lifted their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. BMO Capital Markets lifted their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. Raymond James upped their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. Finally, National Bankshares upped their price target on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$89.72.

Granite Real Estate Investment Trust Trading Down 2.2 %

The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The stock has a market capitalization of C$4.37 billion, a price-to-earnings ratio of 19.20 and a beta of 1.18. The business has a fifty day simple moving average of C$74.50 and a 200 day simple moving average of C$73.74.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were given a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Wednesday, November 27th. Granite Real Estate Investment Trust’s dividend payout ratio is 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.