Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$73.25 and traded as low as C$67.98. Granite Real Estate Investment Trust shares last traded at C$68.29, with a volume of 68,575 shares traded.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on GRT.UN shares. Canaccord Genuity Group lowered their price target on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a report on Friday, May 10th. TD Securities dropped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a report on Wednesday, April 24th. Royal Bank of Canada lifted their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an “outperform” rating in a report on Friday, March 1st. National Bankshares lowered their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, BMO Capital Markets raised their target price on shares of Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Granite Real Estate Investment Trust currently has an average rating of “Buy” and a consensus target price of C$87.70.
Get Our Latest Research Report on Granite Real Estate Investment Trust
Granite Real Estate Investment Trust Price Performance
The company has a fifty day simple moving average of C$72.30 and a 200 day simple moving average of C$73.25. The stock has a market capitalization of C$4.30 billion, a price-to-earnings ratio of 20.03 and a beta of 1.16. The company has a debt-to-equity ratio of 58.04, a quick ratio of 1.61 and a current ratio of 0.45.
Granite Real Estate Investment Trust Dividend Announcement
The company also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were paid a $0.275 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Wednesday, March 27th. Granite Real Estate Investment Trust’s dividend payout ratio is currently 96.77%.
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.
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