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

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) declared a monthly dividend on Wednesday, November 27th,TickerTech Dividends reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.275 per share on Monday, December 16th. This represents a $3.30 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Wednesday, November 27th.

Granite Real Estate Investment Trust Price Performance

Shares of TSE:GRT.UN traded down C$1.00 during midday trading on Tuesday, reaching C$74.63. 134,192 shares of the company’s stock traded hands, compared to its average volume of 82,892. Granite Real Estate Investment Trust has a 1 year low of C$64.50 and a 1 year high of C$82.88. The company has a debt-to-equity ratio of 57.74, a quick ratio of 1.61 and a current ratio of 0.35. The company has a fifty day simple moving average of C$77.69 and a two-hundred day simple moving average of C$73.29. The company has a market cap of C$4.68 billion, a P/E ratio of 20.83 and a beta of 1.18.

Wall Street Analysts Forecast Growth

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