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. Stockholders of record on Tuesday, April 15th will be given a dividend of 0.2833 per share on Tuesday, April 15th. This represents a $3.40 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Monday, March 31st.

Granite Real Estate Investment Trust Stock Down 1.4 %

Shares of GRT.UN traded down C$0.98 during mid-day 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 company’s 50 day moving average is C$68.36 and its 200 day moving average is C$72.84. The stock has a market cap of C$4.20 billion, a PE ratio of 18.45 and a beta of 1.18. Granite Real Estate Investment Trust has a 12-month low of C$64.50 and a 12-month high of C$82.88. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61.

Analyst Ratings Changes

Several analysts have recently weighed in on GRT.UN shares. Scotiabank reduced their target price on Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a report on Friday, February 28th. Raymond James reduced their price objective on Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research note on Friday, February 28th.

Granite Real Estate Investment Trust Company Profile

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.