Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Crosses Below 200-Day Moving Average of $89.22

Granite Real Estate Investment Trust (TSE:GRT.UNGet Rating) (NASDAQ:GRP.U) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$89.22 and traded as low as C$79.00. Granite Real Estate Investment Trust shares last traded at C$80.16, with a volume of 131,869 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on the company. CIBC dropped their price objective on Granite Real Estate Investment Trust from C$106.00 to C$102.00 in a report on Monday, June 27th. Scotiabank dropped their price objective on Granite Real Estate Investment Trust from C$110.00 to C$97.00 in a report on Thursday, July 21st. Finally, National Bankshares dropped their price objective on Granite Real Estate Investment Trust from C$115.00 to C$85.00 and set an “outperform” rating on the stock in a report on Wednesday, July 20th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$103.56.

Granite Real Estate Investment Trust Price Performance

The stock has a 50 day simple moving average of C$80.43 and a two-hundred day simple moving average of C$89.22. The company has a market cap of C$5.28 billion and a price-to-earnings ratio of 3.37. The company has a debt-to-equity ratio of 43.18, a current ratio of 1.96 and a quick ratio of 1.54.

Granite Real Estate Investment Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.2583 per share. The ex-dividend date was Monday, May 30th. This represents a $3.10 dividend on an annualized basis and a yield of 3.87%. This is a positive change from Granite Real Estate Investment Trust’s previous monthly dividend of $0.25. Granite Real Estate Investment Trust’s payout ratio is 12.76%.

About Granite Real Estate Investment Trust

(Get Rating)

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.

Further Reading

Want More Great Investing Ideas?

Receive News & Ratings for Granite Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.