Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$74.02 and traded as low as C$69.29. Granite Real Estate Investment Trust shares last traded at C$69.38, with a volume of 142,600 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Securities increased their price target on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. BMO Capital Markets boosted their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. Finally, National Bankshares raised their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th.

Granite Real Estate Investment Trust Stock Performance

The company has a market cap of C$4.41 billion, a PE ratio of 19.37 and a beta of 1.18. 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 stock’s 50-day simple moving average is C$71.77 and its 200 day simple moving average is C$74.04.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 14th will be issued a $0.2833 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.40 annualized dividend and a dividend yield of 4.83%. Granite Real Estate Investment Trust’s dividend payout ratio is currently 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.