Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of C$85.33 and traded as high as C$86.66. Granite Real Estate Investment Trust shares last traded at C$85.83, with a volume of 115,633 shares.

Analyst Ratings Changes

Several analysts have weighed in on GRT.UN shares. TD lifted their price objective 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 note on Friday, August 7th. Raymond James Financial decreased their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Desjardins raised their target price on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, National Bank Financial lowered their target price on shares of Granite Real Estate Investment Trust from C$112.00 to C$100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Granite Real Estate Investment Trust has a consensus rating of “Buy” and a consensus price target of C$102.50.

Granite Real Estate Investment Trust Trading Up 2.5%

The stock has a market capitalization of C$5.33 billion, a P/E ratio of 14.20 and a beta of 1.48. 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 business has a 50-day moving average price of C$85.33 and a two-hundred day moving average price of C$89.74.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$1.14 EPS for the quarter. The company had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. On average, analysts expect that Granite Real Estate Investment Trust will post 5.58 EPS for the current fiscal 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.