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)’s share price 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on GRT.UN shares. TD Securities upped 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. BMO Capital Markets upped their price target on 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 Stock Performance

The company’s fifty day simple moving average is C$70.04 and its two-hundred day simple moving average is C$74.04. 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 stock has a market capitalization of C$4.27 billion, a P/E ratio of 18.74 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

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