Granite Real Estate Investment Trust (GRT.UN) to Issue Monthly Dividend of $0.28 on February 14th

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Friday, January 31st,TickerTech Dividends reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.2833 per share on Friday, February 14th. This represents a $3.40 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, January 31st.

Granite Real Estate Investment Trust Stock Up 0.3 %

Shares of TSE GRT.UN traded up C$0.21 during mid-day trading on Wednesday, reaching C$69.51. 9,677 shares of the company were exchanged, compared to its average volume of 99,219. Granite Real Estate Investment Trust has a 1 year low of C$64.50 and a 1 year high of C$82.88. The firm has a 50-day moving average of C$71.52 and a 200 day moving average of C$74.11. The stock has a market cap of C$4.36 billion, a price-to-earnings ratio of 19.15 and a beta of 1.18. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets increased 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. TD Securities increased 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. Finally, National Bankshares raised 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.

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.