Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$78.10 and traded as high as C$81.82. Granite Real Estate Investment Trust shares last traded at C$81.69, with a volume of 39,654 shares trading hands.

Wall Street Analysts Forecast Growth

GRT.UN has been the subject of several recent research reports. National Bankshares upped their price objective on 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. TD Securities raised their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$88.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Royal Bank Of Canada lifted their price target on shares of Granite Real Estate Investment Trust from C$88.00 to C$90.00 in a report on Tuesday, November 11th. Desjardins increased their price objective on Granite Real Estate Investment Trust from C$87.00 to C$89.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, BMO Capital Markets raised their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 in a research report on Monday, November 10th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$87.88.

Granite Real Estate Investment Trust Stock Performance

The company’s 50-day moving average price is C$78.10 and its two-hundred day moving average price is C$76.17. The company has a market capitalization of C$4.95 billion, a price-to-earnings ratio of 17.27 and a beta of 1.51. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 14th were issued a dividend of $0.2833 per share. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, October 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 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. 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.