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) declared a monthly dividend on Friday, February 28th, TickerTech Dividends reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.2833 per share on Friday, March 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Friday, February 28th.

Granite Real Estate Investment Trust Stock Performance

Shares of TSE GRT.UN traded up C$0.47 during mid-day trading on Wednesday, hitting C$68.34. 111,531 shares of the company were exchanged, compared to its average volume of 128,710. 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 firm has a market cap of C$4.29 billion, a price-to-earnings ratio of 18.83 and a beta of 1.18. The stock has a 50 day simple moving average of C$69.34 and a 200-day simple moving average of C$73.75. Granite Real Estate Investment Trust has a 1-year low of C$64.50 and a 1-year high of C$82.88.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Securities raised 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. BMO Capital Markets raised their price objective on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research report on Monday, November 11th.

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.