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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Wednesday, November 27th,TickerTech Dividends reports. Shareholders 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 yield of 4.42%. The ex-dividend date is Wednesday, November 27th.

Granite Real Estate Investment Trust Stock Down 1.3 %

GRT.UN traded down C$1.00 during midday trading on Tuesday, reaching C$74.63. 134,192 shares of the company were exchanged, compared to its average volume of 82,892. Granite Real Estate Investment Trust has a one year low of C$64.50 and a one year high of C$82.88. The company has a market cap of C$4.68 billion, a price-to-earnings ratio of 20.83 and a beta of 1.18. The company’s fifty day moving average price is C$77.69 and its 200 day moving average price is C$73.29. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35.

Analyst Ratings Changes

GRT.UN has been the topic of a number of research analyst reports. TD Securities increased their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. BMO Capital Markets raised their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. National Bankshares boosted their target price on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Finally, Raymond James raised their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$89.72.

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.