Granite Real Estate Investment Trust (TSE:GRT.UN - Get Free Report) NASDAQ: GRP.U's stock price reached a new 52-week low during mid-day trading on Wednesday after Scotiabank lowered their price target on the stock from C$85.00 to C$75.00. Scotiabank currently has an outperform rating on the stock. Granite Real Estate Investment Trust traded as low as C$55.25 and last traded at C$56.36, with a volume of 31047 shares trading hands. The stock had previously closed at C$57.46.
Separately, Raymond James lowered their price target on Granite Real Estate Investment Trust from C$93.00 to C$88.00 in a research report on Friday, February 28th.
Get Our Latest Research Report on Granite Real Estate Investment Trust
Granite Real Estate Investment Trust Stock Performance
The firm has a market capitalization of C$3.80 billion, a price-to-earnings ratio of 16.67 and a beta of 1.18. The company has a 50-day moving average price of C$66.54 and a 200-day moving average price of C$71.40. 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 Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.2833 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 5.62%. Granite Real Estate Investment Trust's dividend payout ratio (DPR) is 90.91%.
About Granite Real Estate Investment Trust
(
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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 143 investment properties representing approximately 62.9 million square feet of leasable area.
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