Granite Real Estate Investment Trust (TSE:GRT.UN) Declares $0.23 Monthly Dividend
Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) announced a monthly dividend on Tuesday, July 30th, TickerTech reports. Investors of record on Thursday, August 15th will be given a dividend of 0.233 per share on Thursday, August 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Tuesday, July 30th.
Shares of GRT.UN traded down C$0.05 on Monday, reaching C$62.02. The stock had a trading volume of 119,570 shares, compared to its average volume of 78,930. The stock has a market cap of $2.85 billion and a price-to-earnings ratio of 6.01. The company has a debt-to-equity ratio of 50.15, a current ratio of 8.06 and a quick ratio of 7.47. The company’s 50-day moving average is C$61.34. Granite Real Estate Investment Trust has a twelve month low of C$52.37 and a twelve month high of C$64.66.
A number of equities research analysts recently weighed in on GRT.UN shares. Desjardins upped their price target on Superior Plus from C$14.00 to C$14.50 in a report on Friday, May 10th. TD Securities upped their price target on WSP Global from C$81.00 to C$84.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$68.30.
Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.
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