Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Passes 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 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$73.83 and traded as low as C$67.43. Granite Real Estate Investment Trust shares last traded at C$67.96, with a volume of 73,315 shares.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GRT.UN shares. 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. BMO Capital Markets raised their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th.

Granite Real Estate Investment Trust Stock Performance

The business’s fifty day moving average is C$69.55 and its two-hundred day moving average is C$73.83. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The stock has a market capitalization of C$4.26 billion, a PE ratio of 18.72 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 14th were issued a $0.2833 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, January 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 90.91%.

About Granite Real Estate Investment Trust

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.