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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) crossed 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 traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GRT.UN shares. BMO Capital Markets upped their price target on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. TD Securities lifted their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th.

Granite Real Estate Investment Trust Stock Up 0.4 %

The business has a fifty day moving average price of C$70.28 and a two-hundred day moving average price of C$74.10. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The firm has a market capitalization of C$4.27 billion, a price-to-earnings ratio of 18.77 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

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 dividend of $0.2833 per share. This represents a $3.40 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Friday, January 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 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.