G
ranite Real Estate Inc. (NYSE:GRP.U) announced a monthly dividend on July 18th, according to the Wall Street Journal. The company will pay a dividend of $0.206 per share to stockholders of record as of July 31st, with payment made on August 15th. This represents an annualized dividend of $2.47 and a yield of 4.71%. The ex-dividend date is also July 31st.
The company's stock price rose by 0.2% to $52.47 on Friday, with 6,465 shares traded compared to its average volume of 11,580. Granite Real Estate has a market capitalization of $3.22 billion and a price-to-earnings ratio of 14.49.
Granite Real Estate is engaged in the ownership and management of predominantly industrial properties in Canada, the United States, Mexico, and Europe. The company's services include sourcing and real estate acquisition, site development, project management, and long-term leasing.
Separately, Wall Street Zen downgraded Granite Real Estate from a "strong-buy" rating to a "buy" rating on May 9th.
