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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$84.50 and traded as high as C$92.43. Granite Real Estate Investment Trust shares last traded at C$91.99, with a volume of 52,276 shares traded.

Wall Street Analysts Forecast Growth

GRT.UN has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 8th. BMO Capital Markets raised their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a report on Friday, February 27th. Royal Bank Of Canada boosted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research report on Friday, February 27th. National Bank Financial increased their target price on shares of 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. Finally, Scotia lifted their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$99.64.

Granite Real Estate Investment Trust Trading Down 0.5%

The business has a 50-day moving average of C$87.98 and a 200-day moving average of C$84.50. The stock has a market capitalization of C$5.58 billion, a price-to-earnings ratio of 14.27 and a beta of 1.34. 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 results on Wednesday, May 6th. The company reported C$1.51 EPS for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The company had revenue of C$165.83 million for the quarter. As a group, research analysts forecast that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were issued a $0.2958 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Granite Real Estate Investment Trust’s payout ratio is presently 53.53%.

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