Granite Real Estate Inc. to Issue Monthly Dividend of $0.20 (NYSE:GRP.U)

Key Points

• Granite Real Estate Inc. has declared a monthly dividend of $0.20 per share, which is set to be paid on September 15th to stockholders of record by August 29th, resulting in an annualized yield of 4.3%.
• The company's stock recently traded up by 0.7%, reaching a price of $56.99, with a market capitalization of $3.49 billion.
• Analysts at Wall Street Zen downgraded Granite Real Estate from a "strong-buy" to a "buy" rating on May 9th.

Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report) declared a monthly dividend on Tuesday, August 19th, Wall Street Journal reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.2049 per share on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, August 29th.

Granite Real Estate Trading Up 0.7%

Granite Real Estate stock traded up $0.3910 during midday trading on Tuesday, reaching $56.9910. 549 shares of the stock traded hands, compared to its average volume of 10,845. The company has a 50-day simple moving average of $52.88 and a two-hundred day simple moving average of $48.95. Granite Real Estate has a 12-month low of $38.37 and a 12-month high of $65.63. The firm has a market cap of $3.49 billion and a PE ratio of 14.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Analysts Set New Price Targets

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

About Granite Real Estate

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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