Granite Real Estate Investment Trust (TSE:GRT.UN) Reaches New 1-Year Low – Time to Sell?

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$64.50 and last traded at C$64.95, with a volume of 102699 shares. The stock had previously closed at C$66.62.

Analyst Ratings Changes

A number of analysts have recently weighed in on GRT.UN shares. Raymond James reduced their price target on shares of Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research note on Friday, February 28th. Scotiabank decreased their price target on Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research note on Friday, February 28th.

Granite Real Estate Investment Trust Price Performance

The company has a fifty day simple moving average of C$68.12 and a 200-day simple moving average of C$72.56. The company has a market cap of C$4.07 billion, a P/E ratio of 17.85 and a beta of 1.18. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a $0.2833 dividend. This represents a $3.40 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Monday, March 31st. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 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.