Granite Real Estate Investment Trust Plans 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 is Wednesday, November 27th.

Granite Real Estate Investment Trust Price Performance

GRT.UN traded down C$1.00 during midday trading on Tuesday, hitting C$74.63. The company had a trading volume of 134,192 shares, compared to its average volume of 82,892. Granite Real Estate Investment Trust has a twelve month low of C$64.50 and a twelve month high of C$82.88. The company has a market capitalization of C$4.68 billion, a PE ratio of 20.56 and a beta of 1.18. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The firm’s 50-day simple moving average is C$77.69 and its 200-day simple moving average is C$73.29.

Wall Street Analyst Weigh In

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