Granite Real Estate Investment Trust (GRT.UN) to Issue Monthly Dividend of $0.28 on December 16th

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 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Wednesday, November 27th.

Granite Real Estate Investment Trust Stock Down 1.3 %

TSE:GRT.UN traded down C$1.00 during trading hours 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 quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. The firm has a market cap of C$4.68 billion, a price-to-earnings ratio of 20.56 and a beta of 1.18. The business’s 50-day simple moving average is C$77.69 and its two-hundred day simple moving average is C$73.29. Granite Real Estate Investment Trust has a twelve month low of C$64.50 and a twelve month high of C$82.88.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GRT.UN shares. Raymond James lifted 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. National Bankshares raised their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. 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 research report on Monday, November 11th. Finally, TD Securities raised their price target 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 equities research 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, the company presently has an average rating of “Buy” and a consensus 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.