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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$73.30 and traded as low as C$67.84. Granite Real Estate Investment Trust shares last traded at C$68.28, with a volume of 91,194 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on GRT.UN. Raymond James cut their price target on Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research note on Friday, February 28th. Scotiabank cut their price objective on Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research note on Friday, February 28th.

Granite Real Estate Investment Trust Stock Performance

The stock has a market cap of C$4.29 billion, a P/E ratio of 18.83 and a beta of 1.18. The company has a fifty day moving average price of C$68.48 and a 200 day moving average price of C$73.26. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were issued a dividend of $0.2833 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $3.40 annualized dividend and a dividend yield of 4.97%. Granite Real Estate Investment Trust’s dividend payout ratio is 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.