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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) declared a monthly dividend on Friday, February 28th, TickerTech Dividends reports. Investors of record on Friday, March 14th will be given a dividend of 0.2833 per share on Friday, March 14th. This represents a $3.40 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Friday, February 28th.

Granite Real Estate Investment Trust Price Performance

TSE GRT.UN traded up C$0.47 on Wednesday, reaching C$68.34. The company’s stock had a trading volume of 111,531 shares, compared to its average volume of 128,710. Granite Real Estate Investment Trust has a twelve month low of C$64.50 and a twelve month high of C$82.88. 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’s 50 day moving average is C$69.34 and its two-hundred day moving average is C$73.75. The stock has a market cap of C$4.29 billion, a PE ratio of 18.83 and a beta of 1.18.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BMO Capital Markets lifted 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 upped their target price on Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th.

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.