Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U's stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$73.62 and traded as low as C$72.34. Granite Real Estate Investment Trust shares last traded at C$73.14, with a volume of 62,827 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. TD Securities increased their price target on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. National Bankshares raised their target price on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. BMO Capital Markets lifted their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. Finally, Raymond James raised their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$89.72.
Check Out Our Latest Research Report on GRT.UN
Granite Real Estate Investment Trust Stock Performance
The firm has a market cap of C$4.56 billion, a PE ratio of 20.03 and a beta of 1.18. The firm has a 50-day moving average price of C$76.08 and a two-hundred day moving average price of C$73.64. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.
Granite Real Estate Investment Trust Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, November 27th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.54%. Granite Real Estate Investment Trust's payout ratio is 90.91%.
About Granite Real Estate Investment Trust
(
Get Free Report)
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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