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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Wednesday, March 27th, TickerTech reports. Stockholders of record on Monday, April 15th will be paid a dividend of 0.275 per share on Monday, April 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Wednesday, March 27th.

Granite Real Estate Investment Trust Stock Performance

TSE GRT.UN traded down C$0.47 on Tuesday, hitting C$75.53. 46,974 shares of the stock were exchanged, compared to its average volume of 75,811. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61. The business’s fifty day moving average is C$74.70 and its 200 day moving average is C$72.88. Granite Real Estate Investment Trust has a 52 week low of C$62.72 and a 52 week high of C$86.39. The company has a market capitalization of C$4.79 billion, a PE ratio of 34.97 and a beta of 1.11.

Analyst Upgrades and Downgrades

GRT.UN has been the topic of several research analyst reports. National Bankshares increased their price objective on shares of Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Desjardins increased their price objective on shares of Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Raymond James increased their price objective on shares of Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the company a “strong-buy” rating in a research report on Monday, January 8th. Laurentian increased their price objective on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$88.33.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.