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 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Granite Real Estate Investment Trust’s previous monthly dividend of $0.28.

Granite Real Estate Investment Trust Stock Down 1.4 %

GRT.UN stock opened at C$68.72 on Tuesday. The company’s 50 day moving average is C$74.29 and its 200 day moving average is C$73.84. The stock has a market cap of C$4.31 billion, a price-to-earnings ratio of 18.93 and a beta of 1.18. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 1-year low of C$64.50 and a 1-year high of C$82.88.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GRT.UN shares. TD Securities increased their price target on shares of Granite Real Estate Investment Trust from C$91.00 to C$93.00 in a report on Friday, November 8th. Raymond James raised their price target on Granite Real Estate Investment Trust from C$90.00 to C$92.00 in a research report on Friday, September 6th. National Bankshares increased their price objective on Granite Real Estate Investment Trust from C$85.00 to C$93.50 in a research report on Wednesday, October 9th. Finally, BMO Capital Markets upped their target price on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$89.72.

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.