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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Monday, March 31st, TickerTech Dividends reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.2833 per share on Tuesday, April 15th. This represents a $3.40 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Monday, March 31st.

Granite Real Estate Investment Trust Price Performance

TSE:GRT.UN traded down C$0.98 during mid-day trading on Friday, reaching C$66.99. 132,681 shares of the stock were exchanged, compared to its average volume of 125,808. Granite Real Estate Investment Trust has a 1-year low of C$64.50 and a 1-year high of C$82.88. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The firm has a market capitalization of C$4.20 billion, a PE ratio of 18.45 and a beta of 1.18. The business has a fifty day moving average price of C$68.36 and a 200 day moving average price of C$72.84.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GRT.UN shares. Raymond James reduced their target price on Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a report on Friday, February 28th. Scotiabank cut their target price on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a research note on Friday, February 28th.

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.