Granite Real Estate Investment Trust (GRT.UN) to Issue Monthly Dividend of $0.28 on January 15th

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Investors of record on Wednesday, January 15th will be paid a dividend of 0.2833 per share on Wednesday, January 15th. This represents a $3.40 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Tuesday, December 31st. This is a boost from Granite Real Estate Investment Trust’s previous monthly dividend of $0.28.

Granite Real Estate Investment Trust Price Performance

Shares of GRT.UN opened at C$69.76 on Thursday. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The firm has a market cap of C$4.38 billion, a PE ratio of 19.22 and a beta of 1.18. The firm’s 50 day moving average price is C$73.97 and its 200 day moving average price is C$73.79. 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

GRT.UN has been the subject of a number of recent research reports. Raymond James upped 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. TD Securities upped their price target on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. National Bankshares raised their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research note on Wednesday, October 9th. Finally, BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a report on Monday, November 11th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$89.72.

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.