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. Investors 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

GRT.UN traded up C$0.47 on Wednesday, reaching C$68.34. The company had a trading volume of 111,531 shares, compared to its average volume of 128,877. The stock has a 50-day moving average price of C$69.34 and a 200-day moving average price of C$73.75. The stock has a market capitalization of C$4.29 billion, a PE ratio of 18.83 and a beta of 1.18. 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 quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Wall Street Analyst Weigh In

GRT.UN has been the topic of a number of research reports. BMO Capital Markets raised their price target on Granite Real Estate Investment Trust from C$86.00 to C$88.00 in a research note on Monday, November 11th. 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 report on Friday, November 8th.

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.