StockNews.com downgraded shares of Granite Real Estate Inc. Staple (NYSE:GRP.U – Free Report) from a strong-buy rating to a buy rating in a research report report published on Wednesday.
Granite Real Estate Inc. Staple Stock Performance
NYSE GRP.U opened at $47.25 on Wednesday. The stock has a market cap of $2.96 billion and a PE ratio of 13.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50-day moving average of $51.46 and a 200-day moving average of $53.83. Granite Real Estate Inc. Staple has a 52-week low of $46.75 and a 52-week high of $65.63.
Granite Real Estate Inc. Staple Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.1979 per share. This represents a $2.38 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 49.44%.
Granite Real Estate Inc. Staple Company Profile
Granite Real Estate Investment Trust is engaged in the ownership and management of predominantly industrial properties in Canada, the United States, Mexico and Europe. The Company owns and manages rental income properties. Its services include sourcing and real estate acquisition, site development, assisting with government approvals and re-zoning to specific uses, build-to-suit construction, property renovation, project management and long-term leasing.
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