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 given 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

TSE GRT.UN traded down C$1.00 on Tuesday, reaching C$74.63. The company’s stock had a trading volume of 134,192 shares, compared to its average volume of 82,892. The firm’s 50 day moving average is C$77.69 and its two-hundred day moving average is C$73.29. 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 debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. Granite Real Estate Investment Trust has a twelve month low of C$64.50 and a twelve month high of C$82.88.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. Raymond James boosted their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. TD Securities increased their price objective on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, National Bankshares lifted their target price 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Granite Real Estate Investment Trust currently has an average rating of “Buy” and an average target price 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.