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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$93.15 and traded as high as C$94.56. Granite Real Estate Investment Trust shares last traded at C$93.80, with a volume of 39,033 shares trading hands.

Wall Street Analyst Weigh In

GRT.UN has been the subject of a number of recent research reports. Raymond James Financial lifted their price objective on shares of 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. Canaccord Genuity Group increased their price target on shares of 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. TD increased their price target on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a report on Friday, May 8th. BMO Capital Markets lifted their price target on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research report on Friday, February 27th. Finally, TD Securities boosted their price objective on Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$99.64.

Granite Real Estate Investment Trust Stock Down 0.1%

The company has a market cap of C$5.69 billion, a PE ratio of 14.56 and a beta of 1.45. The company has a fifty day moving average of C$93.15 and a two-hundred day moving average of C$87.74. 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 posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 EPS for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The company had revenue of C$165.83 million during the quarter. As a group, analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Dividend Announcement

The company 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) annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 53.53%.

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.