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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$69.32 and traded as low as C$61.77. Granite Real Estate Investment Trust shares last traded at C$62.08, with a volume of 57,320 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank dropped their price target on Granite Real Estate Investment Trust from C$85.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. TD Securities lowered their price target on Granite Real Estate Investment Trust from C$87.00 to C$77.00 in a research report on Monday, April 21st. Finally, Raymond James cut their price objective on shares of Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research report on Friday, February 28th.

Granite Real Estate Investment Trust Stock Performance

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 cap of C$3.89 billion, a PE ratio of 17.10 and a beta of 1.18. The business has a 50-day simple moving average of C$64.45 and a 200 day simple moving average of C$69.32.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were paid a dividend of $0.2833 per share. This represents a $3.40 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend was Monday, March 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.