Granite Real Estate Investment Trust (GRT.UN) To Go Ex-Dividend on March 27th

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) declared a monthly dividend on Wednesday, March 27th, TickerTech reports. Stockholders of record on Monday, April 15th will be given a dividend of 0.275 per share on Monday, April 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Wednesday, March 27th.

Granite Real Estate Investment Trust Stock Down 0.6 %

TSE GRT.UN traded down C$0.47 during midday trading on Tuesday, hitting C$75.53. 46,974 shares of the company traded hands, compared to its average volume of 75,811. Granite Real Estate Investment Trust has a 52 week low of C$62.72 and a 52 week high of C$86.39. The company’s 50-day simple moving average is C$74.70 and its 200-day simple moving average is C$72.88. The company has a market cap of C$4.79 billion, a PE ratio of 34.97 and a beta of 1.11. The company has a debt-to-equity ratio of 58.81, a current ratio of 0.40 and a quick ratio of 1.61.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GRT.UN shares. Raymond James boosted their target price on shares of Granite Real Estate Investment Trust from C$90.00 to C$91.00 and gave the stock a “strong-buy” rating in a report on Monday, January 8th. Laurentian raised their target price on shares of Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. National Bankshares upped their price target on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Royal Bank of Canada raised their price objective on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets boosted their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a research note on Monday, March 4th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$88.33.

About Granite Real Estate Investment Trust

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.