Granite Real Estate Investment Trust (TSE:GRT.UN) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$91.41 and traded as low as C$83.02. Granite Real Estate Investment Trust shares last traded at C$83.70, with a volume of 94,938 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD raised their price target on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Raymond James Financial reduced their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Finally, Desjardins lifted their target price on Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$103.50.

Granite Real Estate Investment Trust Price Performance

The stock has a market cap of C$5.21 billion, a P/E ratio of 13.88 and a beta of 1.41. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The company’s fifty day simple moving average is C$91.67 and its 200-day simple moving average is C$91.36.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share for the quarter. The business had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. As a group, sell-side analysts forecast that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 14th were paid a $0.2958 dividend. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, July 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 57.68%.

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.