Granite Real Estate Investment Trust (TSE:GRT.UN) Shares Pass Below 200-Day Moving Average – What’s Next?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$74.12 and traded as low as C$67.27. Granite Real Estate Investment Trust shares last traded at C$69.71, with a volume of 111,034 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GRT.UN shares. National Bankshares increased their target price on 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 target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th.

Granite Real Estate Investment Trust Stock Performance

The business has a 50 day simple moving average of C$70.87 and a two-hundred day simple moving average of C$74.12. The firm has a market cap of C$4.37 billion, a PE ratio of 19.20 and a beta of 1.18. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.2833 per share. This represents a $3.40 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Friday, January 31st. Granite Real Estate Investment Trust’s payout ratio 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.