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

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

Granite Real Estate Investment Trust Price Performance

Shares of TSE GRT.UN traded down C$1.00 during mid-day trading on Tuesday, reaching C$74.63. The company had a trading volume of 122,345 shares, compared to its average volume of 82,892. 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 1-year low of C$64.50 and a 1-year high of C$82.88. The stock has a market cap of C$4.68 billion, a PE ratio of 20.56 and a beta of 1.18. The company has a 50-day moving average price of C$77.69 and a two-hundred day moving average price of C$73.29.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. National Bankshares raised their target price on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. BMO Capital Markets boosted their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. TD Securities lifted their price target on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, Raymond James lifted 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. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus 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.