Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U's stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$91.60 and traded as low as C$88.00. Granite Real Estate Investment Trust shares last traded at C$90.68, with a volume of 114,615 shares.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on GRT.UN. Canaccord Genuity Group upped their target price on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Scotia boosted their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 8th. TD upped their price objective on shares of Granite Real Estate Investment Trust from C$101.00 to C$103.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Desjardins raised their target price on shares of Granite Real Estate Investment Trust from C$106.00 to C$108.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Raymond James Financial dropped their target price on shares of Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$103.50.
Read Our Latest Stock Analysis on GRT.UN
Granite Real Estate Investment Trust Price Performance
The company has a market cap of C$5.63 billion, a P/E ratio of 15.00 and a beta of 1.48. The stock has a 50-day simple moving average of C$95.07 and a 200 day simple moving average of C$91.60. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.
Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last released its quarterly earnings data on Wednesday, August 5th. The company reported C$1.16 EPS for the quarter. The company had revenue of C$165.09 million during the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. On average, equities analysts expect that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.
Granite Real Estate Investment Trust Announces Dividend
The business also recently disclosed a monthly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 14th were given a $0.2958 dividend. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, July 31st. Granite Real Estate Investment Trust's dividend payout ratio (DPR) is presently 57.68%.
About Granite Real Estate Investment Trust
(
Get Free Report)
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.
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