Granite Real Estate Investment Trust Announces Monthly Dividend of $0.30 (TSE:GRT.UN)

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) declared a monthly dividend on Friday, July 31st, TickerTech Dividends reports. Stockholders of record on Friday, August 14th will be paid a dividend of 0.2958 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, July 31st.

Granite Real Estate Investment Trust Trading Down 1.6%

Shares of TSE:GRT.UN opened at C$96.40 on Friday. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74. Granite Real Estate Investment Trust has a 52-week low of C$72.21 and a 52-week high of C$101.50. The stock has a market cap of C$5.85 billion, a price-to-earnings ratio of 14.96 and a beta of 1.47. The business has a 50-day moving average price of C$96.33 and a 200-day moving average price of C$91.13.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last issued its earnings results on Wednesday, May 6th. The company reported C$1.51 EPS for the quarter. Granite Real Estate Investment Trust had a return on equity of 4.28% and a net margin of 42.50%.The firm had revenue of C$165.83 million for the quarter. Equities analysts predict that Granite Real Estate Investment Trust will post 5.580574 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on GRT.UN shares. Canadian Imperial Bank of Commerce lifted their price objective on shares of Granite Real Estate Investment Trust from C$98.00 to C$105.00 in a research note on Friday, May 8th. TD raised their target price on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the stock a “buy” rating in a report on Friday, May 8th. National Bank Financial boosted their target price on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Canaccord Genuity Group upped their price target on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Scotia increased their price target on Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$99.64.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.