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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Friday, August 30th, TickerTech reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.275 per share on Monday, September 16th. This represents a $3.30 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Friday, August 30th.

Granite Real Estate Investment Trust Stock Performance

TSE GRT.UN traded down C$0.42 on Thursday, reaching C$76.29. The stock had a trading volume of 67,889 shares, compared to its average volume of 82,156. 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 12-month low of C$62.72 and a 12-month high of C$80.14. The business’s 50-day moving average price is C$71.46 and its 200 day moving average price is C$71.82. The stock has a market cap of C$4.79 billion, a P/E ratio of 21.02 and a beta of 1.17.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. CIBC upped their price objective on Granite Real Estate Investment Trust from C$84.00 to C$85.00 in a report on Friday, May 10th. Canaccord Genuity Group dropped their price objective on Granite Real Estate Investment Trust from C$96.50 to C$90.00 in a report on Friday, May 10th. Finally, TD Securities dropped their price objective on Granite Real Estate Investment Trust from C$88.00 to C$87.00 in a report on Friday, August 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$87.60.

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.