Granite Real Estate Investment Trust (TSE:GRT.UN) Declares Monthly Dividend of $0.28

Key Points

• Granite Real Estate Investment Trust has declared a monthly dividend of $0.28, with shareholders of record set to receive it on October 15th, representing a 4.4% annual yield.
• The company's stock opened at C$77.41, with a market cap of C$4.69 billion and a one-year price range between C$55.25 and C$82.45.
• Analyst ratings for Granite Real Estate Investment Trust are positive, with several institutions increasing their price targets, leading to an average price target of C$87.43 and a consensus rating of "Buy".

Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U declared a monthly dividend on Monday, September 29th, TickerTech Dividends reports. Stockholders of record on Wednesday, October 15th will be paid a dividend of 0.2833 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 29th.

Granite Real Estate Investment Trust Price Performance

Granite Real Estate Investment Trust stock opened at C$77.41 on Friday. The firm has a market cap of C$4.69 billion, a PE ratio of 14.37 and a beta of 1.69. The company has a debt-to-equity ratio of 57.74, a current ratio of 0.35 and a quick ratio of 1.61. The stock's fifty day moving average price is C$76.83 and its two-hundred day moving average price is C$70.26. Granite Real Estate Investment Trust has a one year low of C$55.25 and a one year high of C$82.45.

Wall Street Analyst Weigh In

GRT.UN has been the subject of a number of analyst reports. CIBC boosted their price target on Granite Real Estate Investment Trust from C$74.00 to C$85.00 in a research note on Wednesday, June 11th. Royal Bank Of Canada boosted their target price on shares of Granite Real Estate Investment Trust from C$86.00 to C$88.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. TD Securities upped their price target on shares of Granite Real Estate Investment Trust from C$77.00 to C$85.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Scotiabank increased their price target on shares of Granite Real Estate Investment Trust from C$80.00 to C$85.00 in a research report on Friday, August 8th. Finally, Raymond James Financial boosted their price objective on shares of Granite Real Estate Investment Trust from C$85.00 to C$87.50 in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Granite Real Estate Investment Trust currently has an average rating of "Buy" and a consensus price target of C$87.43.

Granite Real Estate Investment Trust Company Profile

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite's portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.