Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$72.89 and traded as low as C$66.31. Granite Real Estate Investment Trust shares last traded at C$66.52, with a volume of 48,947 shares changing hands.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on GRT.UN shares. Desjardins lifted their price objective on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a “buy” rating in a report on Friday, March 1st. BMO Capital Markets upped their price target on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Canaccord Genuity Group cut their target price on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a research report on Friday, May 10th. Royal Bank of Canada increased their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, CIBC boosted their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a research report on Friday, May 10th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$87.70.
Check Out Our Latest Stock Report on GRT.UN
Granite Real Estate Investment Trust Stock Performance
Granite Real Estate Investment Trust Dividend Announcement
The firm also recently declared a monthly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, June 14th were given a dividend of $0.275 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Friday, May 31st. Granite Real Estate Investment Trust’s payout ratio is presently 96.77%.
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.
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