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

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 paid 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 of this dividend is Wednesday, November 27th.

Granite Real Estate Investment Trust Trading Down 1.3 %

TSE GRT.UN traded down C$1.00 during trading on Tuesday, hitting 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 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 20.56 and a beta of 1.18. The company’s fifty day moving average is C$77.69 and its 200-day moving average is C$73.29.

Analysts Set New Price Targets

Several brokerages have commented on GRT.UN. TD Securities upped their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. National Bankshares upped their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. Raymond James upped their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. Finally, BMO Capital Markets upped their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Granite Real Estate Investment Trust has a consensus rating of “Buy” and an average target price 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.