Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$72.01 and traded as high as C$74.80. Granite Real Estate Investment Trust shares last traded at C$74.17, with a volume of 68,557 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. 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 research note on Friday, May 10th. CIBC increased their target price on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a report on Friday, May 10th. National Bankshares dropped their target price on Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Finally, TD Securities reduced their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$87.70.
Get Our Latest Research Report on GRT.UN
Granite Real Estate Investment Trust Price Performance
The firm has a market cap of C$4.67 billion, a P/E ratio of 21.75 and a beta of 1.16. The firm’s fifty day simple moving average is C$69.68 and its 200 day simple moving average is C$72.01. 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 firm also recently declared a monthly dividend, which was paid on Friday, June 14th. Investors of record on Friday, June 14th were given a $0.275 dividend. This represents a $3.30 annualized dividend and a yield of 4.45%. The ex-dividend date was Friday, May 31st. Granite Real Estate Investment Trust’s dividend payout ratio 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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