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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$91.61 and traded as low as C$86.63. Granite Real Estate Investment Trust shares last traded at C$87.37, with a volume of 46,449 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD increased their price target on Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the company a “buy” rating in a report on Friday, August 7th. Desjardins boosted their price objective on Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Raymond James Financial dropped their target price on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$103.50.

Granite Real Estate Investment Trust Price Performance

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 has a market cap of C$5.29 billion, a PE ratio of 14.09 and a beta of 1.41. The stock has a 50-day simple moving average of C$93.27 and a 200 day simple moving average of C$91.58.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$1.16 EPS for the quarter. The business had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. Equities analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 14th were paid a dividend of $0.2958 per share. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, July 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 57.68%.

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 147 investment properties representing approximately 62.6 million square feet of leasable area.