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

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

Analyst Ratings Changes

Several brokerages have issued reports on GRT.UN. National Bankshares increased their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. TD Securities increased their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. Finally, BMO Capital Markets boosted 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Granite Real Estate Investment Trust has an average rating of “Buy” and a consensus price target of C$89.72.

Granite Real Estate Investment Trust Stock Up 0.8 %

The business’s fifty day moving average price is C$72.65 and its two-hundred day moving average price is C$73.92. 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 firm has a market capitalization of C$4.34 billion, a P/E ratio of 19.06 and a beta of 1.18.

Granite Real Estate Investment Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were paid a $0.2833 dividend. This represents a $3.40 annualized dividend and a yield of 4.91%. This is an increase from Granite Real Estate Investment Trust’s previous monthly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, December 31st. 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.