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

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$73.30 and traded as low as C$67.84. Granite Real Estate Investment Trust shares last traded at C$68.28, with a volume of 91,194 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Raymond James cut their price objective on Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research report on Friday, February 28th. Scotiabank cut their price objective on Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research report on Friday, February 28th.

Granite Real Estate Investment Trust Price Performance

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 business has a 50-day moving average price of C$68.48 and a 200 day moving average price of C$73.26. The stock has a market cap of C$4.29 billion, a PE ratio of 18.83 and a beta of 1.18.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a dividend of $0.2833 per share. The ex-dividend date was Friday, February 28th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.97%. Granite Real Estate Investment Trust’s dividend payout ratio is presently 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.