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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed below its 200-day moving average during trading on Thursday . The stock has a 200-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 Ratings Changes

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

Granite Real Estate Investment Trust Price Performance

The stock has a fifty day simple moving average of C$70.28 and a 200-day simple moving average of C$74.10. 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 market capitalization of C$4.27 billion, a PE ratio of 18.77 and a beta of 1.18.

Granite Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 14th will be given a $0.2833 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.40 dividend on an annualized basis and a yield of 4.99%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 90.91%.

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 143 investment properties representing approximately 62.9 million square feet of leasable area.