Granite Real Estate Investment Trust (TSE:GRT.UN) Shares Cross Below 200-Day Moving Average – What’s Next?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$91.60 and traded as low as C$88.00. Granite Real Estate Investment Trust shares last traded at C$90.68, with a volume of 114,615 shares traded.

Analyst Upgrades and Downgrades

GRT.UN has been the topic of several research reports. Scotia boosted their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Canaccord Genuity Group lifted their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Desjardins increased their target price on Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce raised their price target on Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a report on Friday, May 8th. Finally, Raymond James Financial decreased their price objective on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$103.50.

Granite Real Estate Investment Trust Stock Down 1.1%

The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The firm has a market cap of C$5.51 billion, a P/E ratio of 14.67 and a beta of 1.48. The stock’s fifty day moving average is C$95.00 and its two-hundred day moving average is C$91.61.

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 firm had revenue of C$165.09 million during the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. As a group, research analysts anticipate that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current year.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 14th were given a dividend of $0.2958 per share. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, July 31st. Granite Real Estate Investment Trust’s payout ratio is presently 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.