Granite Real Estate Investment Trust (TSE:GRT.UN – Get Free Report) (NASDAQ:GRP.U)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$79.77 and traded as low as C$75.14. Granite Real Estate Investment Trust shares last traded at C$75.17, with a volume of 44,772 shares changing hands.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. National Bankshares lowered their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$90.00 in a research report on Tuesday, July 18th. BMO Capital Markets decreased their target price on shares of Granite Real Estate Investment Trust from C$98.00 to C$91.00 in a research report on Tuesday, August 15th. Royal Bank of Canada decreased their target price on shares of Granite Real Estate Investment Trust from C$103.00 to C$97.00 and set an “outperform” rating on the stock in a research report on Monday, August 14th. Raymond James decreased their target price on shares of Granite Real Estate Investment Trust from C$96.00 to C$94.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 14th. Finally, TD Securities decreased their target price on shares of Granite Real Estate Investment Trust from C$97.00 to C$95.00 and set an “action list buy” rating on the stock in a research report on Friday, August 11th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$93.88.
Get Our Latest Analysis on Granite Real Estate Investment Trust
Granite Real Estate Investment Trust Price Performance
Granite Real Estate Investment Trust Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.2667 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.20 annualized dividend and a dividend yield of 4.26%. Granite Real Estate Investment Trust’s payout ratio is -148.15%.
Granite Real Estate Investment Trust Company Profile
Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.
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