Granite Real Estate Investment Trust (TSE:GRT.UN) Shares Cross Below 200 Day Moving Average – What’s Next?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$68.43 and traded as low as C$66.12. Granite Real Estate Investment Trust shares last traded at C$66.63, with a volume of 74,884 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. TD Securities dropped their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$77.00 in a report on Monday, April 21st. Finally, Raymond James dropped their target price on shares of Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a report on Friday, February 28th.

Granite Real Estate Investment Trust Stock Up 0.6%

The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The company’s fifty day moving average is C$64.08 and its 200-day moving average is C$68.43. The company has a market cap of C$4.18 billion, a PE ratio of 18.36 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were issued a $0.2833 dividend. This represents a $3.40 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Monday, March 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.