Granite Real Estate Investment Trust Declares Monthly Dividend of $0.28 (TSE:GRT.UN)

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) declared a monthly dividend on Wednesday, November 27th,TickerTech Dividends reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.275 per share on Monday, December 16th. This represents a $3.30 annualized dividend and a yield of 4.42%. The ex-dividend date is Wednesday, November 27th.

Granite Real Estate Investment Trust Stock Performance

Shares of Granite Real Estate Investment Trust stock traded down C$1.00 on Tuesday, hitting C$74.63. The stock had a trading volume of 122,345 shares, compared to its average volume of 82,892. The company’s 50 day moving average price is C$77.69 and its 200 day moving average price is C$73.29. The stock has a market cap of C$4.68 billion, a price-to-earnings ratio of 20.56 and a beta of 1.18. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 52-week low of C$64.50 and a 52-week high of C$82.88.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. TD Securities raised their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research report on Friday, November 8th. BMO Capital Markets upped their price objective on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. Raymond James raised their target price on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Finally, National Bankshares upped their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Five 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.com, the stock has a consensus rating of “Buy” and an average price target of C$89.72.

About Granite Real Estate Investment Trust

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.