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

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

Granite Real Estate Investment Trust Price Performance

Shares of GRT.UN traded down C$0.98 during midday trading on Friday, reaching C$66.99. The stock had a trading volume of 132,681 shares, compared to its average volume of 125,808. The company has a current ratio of 0.35, a quick ratio of 1.61 and a debt-to-equity ratio of 57.74. The company has a market capitalization of C$4.20 billion, a price-to-earnings ratio of 18.45 and a beta of 1.18. The company’s 50-day moving average is C$68.36 and its 200 day moving average is C$72.84. Granite Real Estate Investment Trust has a 12-month low of C$64.50 and a 12-month high of C$82.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of Granite Real Estate Investment Trust from C$87.00 to C$85.00 in a report on Friday, February 28th. Raymond James cut their price target 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.