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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$73.91 and traded as low as C$70.25. Granite Real Estate Investment Trust shares last traded at C$70.36, with a volume of 79,941 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. National Bankshares boosted their target price on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. 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. Finally, TD Securities upped their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Granite Real Estate Investment Trust presently has a consensus rating of “Buy” and a consensus price target of C$89.72.

Granite Real Estate Investment Trust Trading Up 0.2 %

The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The company has a market capitalization of C$4.39 billion, a price-to-earnings ratio of 19.26 and a beta of 1.18. The business has a fifty day moving average price of C$73.33 and a 200 day moving average price of C$73.88.

Granite Real Estate Investment Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.2833 per share. This is a boost from Granite Real Estate Investment Trust’s previous monthly dividend of $0.28. This represents a $3.40 annualized dividend and a yield of 4.86%. The ex-dividend date is Tuesday, December 31st. Granite Real Estate Investment Trust’s dividend payout ratio 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.