Granite Real Estate Investment Trust (TSE:GRT.UN) to Issue Dividend Increase – $0.26 Per Share
Granite Real Estate Investment Trust (TSE:GRT.UN – Get Rating) (NASDAQ:GRP.U) declared a monthly dividend on Monday, May 30th, TickerTech reports. Investors of record on Wednesday, June 15th will be given a dividend of 0.2583 per share on Wednesday, June 15th. This represents a $3.10 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, May 30th. This is an increase from Granite Real Estate Investment Trust’s previous monthly dividend of $0.25.
TSE:GRT.UN opened at C$90.10 on Friday. The stock’s 50 day moving average price is C$93.12 and its 200 day moving average price is C$96.52. The company has a market capitalization of C$5.93 billion and a PE ratio of 3.76. The company has a quick ratio of 1.54, a current ratio of 1.96 and a debt-to-equity ratio of 43.18. Granite Real Estate Investment Trust has a 52-week low of C$79.35 and a 52-week high of C$105.79.
A number of research analysts recently issued reports on GRT.UN shares. BMO Capital Markets raised their price target on Granite Real Estate Investment Trust from C$112.00 to C$115.00 in a research note on Monday, March 14th. CIBC dropped their price target on Granite Real Estate Investment Trust from C$110.00 to C$106.00 and set an “outperform” rating on the stock in a research note on Friday, May 13th. Scotiabank raised their price target on Granite Real Estate Investment Trust from C$109.00 to C$110.00 in a research note on Thursday, April 28th. Raymond James set a C$110.00 target price on Granite Real Estate Investment Trust and gave the company an “outperform” rating in a research note on Thursday, March 10th. Finally, TD Securities upgraded Granite Real Estate Investment Trust from a “buy” rating to an “action list buy” rating and set a C$115.00 target price on the stock in a research note on Friday, March 11th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Granite Real Estate Investment Trust has an average rating of “Buy” and a consensus target price of C$108.22.
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About Granite Real Estate Investment Trust (Get Rating)
Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.
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