Granite Real Estate Investment Trust (TSE:GRT.UN) Shares Pass Above 200-Day Moving Average – Time to Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$91.06 and traded as high as C$98.55. Granite Real Estate Investment Trust shares last traded at C$97.94, with a volume of 65,180 shares traded.

Analyst Ratings Changes

A number of research firms recently issued reports on GRT.UN. National Bank Financial lifted their price objective on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Scotia upped their target price on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. Canaccord Genuity Group raised their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Raymond James Financial raised their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Granite Real Estate Investment Trust presently has a consensus rating of “Buy” and an average price target of C$99.64.

Granite Real Estate Investment Trust Trading Down 0.6%

The company has a market cap of C$5.95 billion, a price-to-earnings ratio of 15.20 and a beta of 1.47. The company’s 50 day moving average price is C$96.29 and its 200 day moving average price is C$91.06. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share (EPS) for the quarter. The business had revenue of C$165.83 million during the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. Research analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

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 147 investment properties representing approximately 62.6 million square feet of leasable area.