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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Monday, March 31st, TickerTech Dividends reports. Stockholders of record on Tuesday, April 15th will be paid a dividend of 0.2833 per share on Tuesday, April 15th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Monday, March 31st.

Granite Real Estate Investment Trust Trading Down 1.4 %

TSE GRT.UN traded down C$0.98 during mid-day trading on Friday, hitting C$66.99. The company’s stock had a trading volume of 132,681 shares, compared to its average volume of 125,808. The firm has a market capitalization of C$4.20 billion, a P/E ratio of 18.45 and a beta of 1.18. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. Granite Real Estate Investment Trust has a 52-week low of C$64.50 and a 52-week high of C$82.88. The stock’s fifty day simple moving average is C$68.36 and its two-hundred day simple moving average is C$72.84.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GRT.UN shares. Scotiabank decreased their price target 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 target price on shares of Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research report on Friday, February 28th.

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.