Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Passes Below Two Hundred Day Moving Average of $73.00

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$73.00 and traded as low as C$68.67. Granite Real Estate Investment Trust shares last traded at C$69.35, with a volume of 195,480 shares traded.

Analysts Set New Price Targets

GRT.UN has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. National Bankshares cut their target price on Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating on the stock in a research note on Wednesday. Raymond James raised their target price on Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a “strong-buy” rating in a research note on Monday, January 8th. Desjardins raised their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Laurentian raised their target price on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$87.33.

Granite Real Estate Investment Trust Stock Down 0.6 %

The stock has a market capitalization of C$4.39 billion, a P/E ratio of 32.06 and a beta of 1.14. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61. The stock’s fifty day moving average is C$74.37 and its two-hundred day moving average is C$72.96.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were given a $0.275 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.30 annualized dividend and a dividend yield of 4.77%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 152.78%.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.