Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Passes Below 200 Day Moving Average – Here’s Why

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$74.10 and traded as low as C$67.54. Granite Real Estate Investment Trust shares last traded at C$68.12, with a volume of 162,939 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GRT.UN shares. BMO Capital Markets increased their price target on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. TD Securities increased their price target on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th.

Granite Real Estate Investment Trust Stock Performance

The firm has a market capitalization of C$4.27 billion, a P/E ratio of 18.74 and a beta of 1.18. 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 has a 50-day moving average of C$70.04 and a 200-day moving average of C$74.04.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 14th were given a dividend of $0.2833 per share. This represents a $3.40 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Friday, January 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 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.