Granite Real Estate Investment Trust (TSE:GRT.UN) Stock Passes Above 200-Day Moving Average – Here’s Why

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$74.07 and traded as high as C$77.12. Granite Real Estate Investment Trust shares last traded at C$76.69, with a volume of 65,353 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GRT.UN shares. National Bankshares increased their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Scotiabank upped their target price on shares of Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a research note on Friday, August 8th. Royal Bank Of Canada increased their price target on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a research report on Tuesday, November 11th. Desjardins lifted their price target 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, BMO Capital Markets upped their price objective on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$87.88.

Granite Real Estate Investment Trust Stock Up 0.2%

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 stock’s fifty day simple moving average is C$77.83 and its 200-day simple moving average is C$74.07. The stock has a market cap of C$4.65 billion, a P/E ratio of 16.22 and a beta of 1.61.

Granite Real Estate Investment Trust Dividend Announcement

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