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Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$73.23 and traded as low as C$67.03. Granite Real Estate Investment Trust shares last traded at C$67.50, with a volume of 60,924 shares changing hands.
Analysts Set New Price Targets
Several research firms have commented on GRT.UN. Canaccord Genuity Group decreased their target price on shares of Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a report on Friday, May 10th. 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. Desjardins raised their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a “buy” rating in a report on Friday, March 1st. BMO Capital Markets lifted their price target on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Finally, TD Securities dropped their price objective on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research report on Wednesday, April 24th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$87.70.
Get Our Latest Stock Report on GRT.UN
Granite Real Estate Investment Trust Stock Performance
The company’s 50 day moving average is C$70.36 and its 200-day moving average is C$73.23. The company has a market capitalization of C$4.25 billion, a P/E ratio of 19.79 and a beta of 1.16. The company has a current ratio of 0.45, a quick ratio of 1.61 and a debt-to-equity ratio of 58.04.
Granite Real Estate Investment Trust Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, June 14th will be given a $0.275 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.30 annualized dividend and a yield of 4.89%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) 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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