Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Breaks Below 200 Day Moving Average – Time to Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$91.17 and traded as low as C$83.35. Granite Real Estate Investment Trust shares last traded at C$83.72, with a volume of 62,339 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GRT.UN shares. Raymond James Financial dropped their price target on shares of 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. TD upped their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Desjardins upped their price objective on shares of 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. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Granite Real Estate Investment Trust has a consensus rating of “Buy” and an average target price of C$103.50.

Granite Real Estate Investment Trust Stock Performance

The company has a market cap of C$5.32 billion, a PE ratio of 14.17 and a beta of 1.48. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The firm’s 50 day moving average is C$86.66 and its 200-day moving average is C$91.21.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its earnings results on Wednesday, August 5th. The company reported C$1.14 earnings per share for the quarter. The business had revenue of C$165.09 million for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. On average, research analysts anticipate that Granite Real Estate Investment Trust will post 5.58 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 14th were given a dividend of $0.2958 per share. The ex-dividend date was Friday, July 31st. This represents a $3.55 dividend on an annualized basis and a dividend yield of 4.1%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 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.