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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Stockholders of record on Wednesday, January 15th will be paid a dividend of 0.2833 per share on Wednesday, January 15th. This represents a $3.40 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Granite Real Estate Investment Trust’s previous monthly dividend of $0.28.

Granite Real Estate Investment Trust Stock Down 1.4 %

Shares of TSE:GRT.UN opened at C$68.72 on Tuesday. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. Granite Real Estate Investment Trust has a 52-week low of C$64.50 and a 52-week high of C$82.88. The business’s 50 day simple moving average is C$74.29 and its two-hundred day simple moving average is C$73.84. The firm has a market cap of C$4.31 billion, a P/E ratio of 18.93 and a beta of 1.18.

Wall Street Analyst Weigh In

A number of brokerages have commented on GRT.UN. National Bankshares boosted their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a report on Wednesday, October 9th. Raymond James raised their price objective on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research note on Friday, September 6th. TD Securities upped their target price on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a research note on Friday, November 8th. Finally, BMO Capital Markets raised their price target 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.