Granite Real Estate Inc. (NYSE:GRP.U) Declares $0.20 Monthly Dividend

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. Shareholders of record on Friday, August 29th will be given a dividend of 0.2049 per share on Monday, September 15th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, August 29th.

Granite Real Estate Stock Up 3.4%

NYSE:GRP.U traded up $1.9450 during mid-day trading on Friday, reaching $59.5050. The company's stock had a trading volume of 8,089 shares. Granite Real Estate has a 1 year low of $38.37 and a 1 year high of $65.63. The stock has a fifty day moving average of $53.36 and a 200-day moving average of $49.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

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.