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 stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

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

Granite Real Estate Investment Trust Stock Performance

The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The company has a market cap of C$4.85 billion, a P/E ratio of 14.18 and a beta of 1.23. The stock has a 50 day moving average price of C$87.67 and a two-hundred day moving average price of C$81.61.

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 earnings per share (EPS) for the quarter. The business had revenue of C$161.76 million for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%. On average, research analysts predict that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal 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.