Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report) declared a monthly dividend on Wednesday, June 18th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.2084 per share on Tuesday, July 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Monday, June 30th. This is a 2.9% increase from Granite Real Estate's previous monthly dividend of $0.20.
Granite Real Estate Stock Up 0.2%
Shares of NYSE GRP.U traded up $0.10 during midday trading on Wednesday, hitting $50.55. The stock had a trading volume of 2,477 shares, compared to its average volume of 12,871. The company has a market cap of $3.10 billion and a P/E ratio of 13.96. The business's 50 day moving average is $47.51 and its 200-day moving average is $47.83. Granite Real Estate has a 52 week low of $38.37 and a 52 week high of $65.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.
Analyst Ratings Changes
Separately, Wall Street Zen lowered shares of Granite Real Estate from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 9th.
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About Granite Real Estate
(
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Granite Real Estate Investment Trust is engaged in the ownership and management of predominantly industrial properties in Canada, the United States, Mexico and Europe. The Company owns and manages rental income properties. Its services include sourcing and real estate acquisition, site development, assisting with government approvals and re-zoning to specific uses, build-to-suit construction, property renovation, project management and long-term leasing.
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