Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$93.15 and traded as high as C$94.56. Granite Real Estate Investment Trust shares last traded at C$93.80, with a volume of 39,033 shares trading hands.

Wall Street Analysts Forecast Growth

GRT.UN has been the topic of a number of research analyst reports. National Bank Financial boosted their price target on Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Scotia increased their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. 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 report on Friday, February 27th. Raymond James Financial boosted their target price on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Granite Real Estate Investment Trust has a consensus rating of “Buy” and a consensus target price of C$99.64.

Granite Real Estate Investment Trust Stock Down 0.1%

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 capitalization of C$5.69 billion, a PE ratio of 14.56 and a beta of 1.45. The business has a 50-day moving average of C$93.15 and a 200 day moving average of C$87.74.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.51 earnings per share for the quarter. The business had revenue of C$165.83 million during the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. Equities research analysts predict that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current year.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.2958 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. Granite Real Estate Investment Trust’s dividend payout ratio is currently 53.53%.

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 147 investment properties representing approximately 62.6 million square feet of leasable area.