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

Granite Real Estate Investment Trust (TSE:GRT.UNGet Free Report) (NASDAQ:GRP.U) declared a monthly dividend on Friday, May 31st, TickerTech reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.275 per share on Friday, June 14th. This represents a $3.30 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Friday, May 31st.

Granite Real Estate Investment Trust Stock Up 1.2 %

Shares of TSE GRT.UN traded up C$0.82 during midday trading on Thursday, reaching C$67.28. 59,159 shares of the company’s stock were exchanged, compared to its average volume of 85,251. Granite Real Estate Investment Trust has a 52-week low of C$62.72 and a 52-week high of C$83.90. The stock has a market capitalization of C$4.24 billion, a PE ratio of 19.73 and a beta of 1.16. The company has a debt-to-equity ratio of 58.04, a quick ratio of 1.61 and a current ratio of 0.45. The business’s fifty day moving average price is C$71.80 and its two-hundred day moving average price is C$73.25.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research report on Monday, March 4th. National Bankshares dropped their target price on Granite Real Estate Investment Trust from C$87.00 to C$85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada lifted their target price on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. TD Securities decreased their price target on Granite Real Estate Investment Trust from C$90.00 to C$88.00 in a research note on Wednesday, April 24th. Finally, Desjardins lifted their price target on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$87.70.

Check Out Our Latest Research Report on Granite Real Estate Investment Trust

About Granite Real Estate Investment Trust

(Get Free Report)

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.

See Also

Dividend History for Granite Real Estate Investment Trust (TSE:GRT.UN)

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