Granite Real Estate Inc. (NYSE:GRP.U) Increases Dividend to $0.21 Per Share

Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report) declared a monthly dividend on Wednesday, June 18th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend 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 Performance

Shares of NYSE:GRP.U traded down $0.24 during trading on Friday, hitting $50.26. The company's stock had a trading volume of 23,381 shares, compared to its average volume of 12,844. The company has a 50-day moving average of $48.01 and a 200-day moving average of $47.77. Granite Real Estate has a 12 month low of $38.37 and a 12 month high of $65.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.25.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Granite Real Estate from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th.

Granite Real Estate Company Profile

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.