Granite Real Estate Investment Trust (TSE:GRT.UN) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$81.61 and traded as low as C$79.43. Granite Real Estate Investment Trust shares last traded at C$80.10, with a volume of 378,867 shares.

Analyst Upgrades and Downgrades

GRT.UN has been the subject of several analyst reports. TD Securities boosted their target price on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Royal Bank Of Canada lifted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$100.00 in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$98.00 in a research report on Friday, February 27th. BMO Capital Markets upped their target price on Granite Real Estate Investment Trust from C$87.00 to C$97.00 in a research note on Friday, February 27th. Finally, Raymond James Financial downgraded Granite Real Estate Investment Trust from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from C$93.00 to C$96.00 in a report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Granite Real Estate Investment Trust currently has an average rating of “Buy” and a consensus price target of C$93.38.

Granite Real Estate Investment Trust Stock 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 company’s 50-day simple moving average is C$87.67 and its 200-day simple moving average is C$81.61. The stock has a market capitalization of C$4.85 billion, a price-to-earnings ratio of 14.18 and a beta of 1.23.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its quarterly earnings results on Wednesday, February 25th. The company reported C$2.24 EPS for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The company had revenue of C$161.76 million for the quarter. On average, analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

About Granite Real Estate Investment Trust

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. The vast majority of the company’s assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S.