Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U's share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$91.62 and traded as low as C$87.11. Granite Real Estate Investment Trust shares last traded at C$87.87, with a volume of 120,530 shares.
Analyst Ratings Changes
Several research firms have recently weighed in on GRT.UN. Scotia boosted their target price on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a "sector outperform" rating in a research report on Friday, May 8th. Raymond James Financial lowered their price target on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. TD lifted 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 research note on Friday, August 7th. Canaccord Genuity Group boosted their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Granite Real Estate Investment Trust has a consensus rating of "Buy" and an average target price of C$103.50.
Get Our Latest Stock Analysis on GRT.UN
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 business has a 50 day moving average price of C$94.49 and a 200 day moving average price of C$91.62. The stock has a market cap of C$5.46 billion, a P/E ratio of 14.54 and a beta of 1.48.
Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$1.16 earnings per share (EPS) for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The firm had revenue of C$165.09 million during the quarter. As a group, sell-side 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 announced a monthly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 14th were paid a dividend of $0.2958 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 31st. Granite Real Estate Investment Trust's payout ratio is currently 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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