Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$75.27 and traded as high as C$78.56. Granite Real Estate Investment Trust shares last traded at C$77.73, with a volume of 82,800 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GRT.UN. Raymond James Financial lifted their price target on shares of Granite Real Estate Investment Trust from C$90.00 to C$93.00 in a report on Monday, November 10th. Royal Bank Of Canada raised their price objective on Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a research report on Tuesday, November 11th. National Bankshares raised their price target on Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Desjardins lifted their price objective on Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, TD Securities upped their price objective on Granite Real Estate Investment Trust from C$85.00 to C$88.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$87.88.

Granite Real Estate Investment Trust Trading Up 0.3%

The company has a 50-day moving average of C$77.40 and a 200 day moving average of C$75.27. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The company has a market cap of C$4.71 billion, a PE ratio of 16.44 and a beta of 1.51.

Granite Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 14th were issued a $0.2833 dividend. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. Granite Real Estate Investment Trust’s payout ratio is 71.54%.

Granite Real Estate Investment Trust Company Profile

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite’s portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.