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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) declared a monthly dividend on Wednesday, November 27th,TickerTech Dividends reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.275 per share on Monday, December 16th. This represents a $3.30 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Wednesday, November 27th.

Granite Real Estate Investment Trust Trading Down 1.3 %

Shares of Granite Real Estate Investment Trust stock traded down C$1.00 on Tuesday, hitting C$74.63. The stock had a trading volume of 134,192 shares, compared to its average volume of 82,892. The stock’s 50-day simple moving average is C$77.69 and its two-hundred day simple moving average is C$73.29. Granite Real Estate Investment Trust has a one year low of C$64.50 and a one 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. The stock has a market cap of C$4.68 billion, a price-to-earnings ratio of 20.56 and a beta of 1.18.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GRT.UN shares. Raymond James increased their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a report on Friday, September 6th. National Bankshares lifted their price target on shares of Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. TD Securities upped their price objective on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Finally, BMO Capital Markets raised their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.