Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$73.70 and traded as low as C$70.45. Granite Real Estate Investment Trust shares last traded at C$71.29, with a volume of 19,388 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GRT.UN. National Bankshares boosted their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Raymond James increased their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. Finally, TD Securities lifted their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$89.72.

Granite Real Estate Investment Trust Price Performance

The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The company has a market capitalization of C$4.37 billion, a price-to-earnings ratio of 19.20 and a beta of 1.18. The company has a 50-day moving average price of C$74.50 and a 200-day moving average price of C$73.74.

Granite Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Wednesday, November 27th. 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.