Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$72.87 and traded as high as C$79.98. Granite Real Estate Investment Trust shares last traded at C$79.29, with a volume of 108,466 shares traded.

Analysts Set New Price Targets

GRT.UN has been the topic of a number of research analyst reports. National Bankshares increased their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. TD Securities upped their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Raymond James lifted their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$88.95.

Granite Real Estate Investment Trust Trading Down 2.1 %

The firm has a market cap of C$4.83 billion, a P/E ratio of 21.33 and a beta of 1.18. The business’s 50-day moving average is C$77.12 and its two-hundred day moving average is C$72.90. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were issued a dividend of $0.275 per share. This represents a $3.30 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Friday, August 30th. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 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.