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

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

Granite Real Estate Investment Trust Trading Down 1.4 %

Shares of TSE:GRT.UN traded down C$0.98 during midday trading on Friday, reaching C$66.99. The company’s stock had a trading volume of 132,681 shares, compared to its average volume of 125,808. The firm has a market cap of C$4.20 billion, a price-to-earnings ratio of 18.45 and a beta of 1.18. The business has a 50 day moving average price of C$68.36 and a 200 day moving average price of C$72.84. 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 quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GRT.UN. 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 price objective on Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a report on Friday, February 28th.

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.