Granite Real Estate Investment Trust (TSE:GRT.UN) Share Price Crosses Above Two Hundred Day Moving Average of $72.50

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$72.50 and traded as high as C$81.31. Granite Real Estate Investment Trust shares last traded at C$81.14, with a volume of 84,129 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James increased their target price on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. TD Securities boosted their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$91.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$88.10.

Granite Real Estate Investment Trust Stock Down 0.4 %

The stock has a 50-day moving average price of C$75.77 and a 200-day moving average price of C$72.54. 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 company has a market capitalization of C$5.05 billion, a P/E ratio of 22.19 and a beta of 1.17.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $3.30 annualized dividend and a dividend yield of 4.10%. Granite Real Estate Investment Trust’s payout ratio is 90.91%.

Granite Real Estate Investment Trust Company Profile

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 143 investment properties representing approximately 62.9 million square feet of leasable area.