Granite Real Estate Inc. Staple (NYSE:GRP.U) Hits New 1-Year Low – Here’s What Happened

Granite Real Estate Inc. Staple (NYSE:GRP.U) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $47.25 and last traded at $47.25, with a volume of 1333 shares changing hands. The stock had previously closed at $48.49.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Granite Real Estate Inc. Staple from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Granite Real Estate Inc. Staple Stock Down 2.6 %

The business has a fifty day moving average price of $51.59 and a two-hundred day moving average price of $53.84. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.96 billion and a price-to-earnings ratio of 13.20.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.1979 dividend. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. The ex-dividend date is Tuesday, December 31st. This represents a $2.38 dividend on an annualized basis and a yield of 5.03%. Granite Real Estate Inc. Staple’s dividend payout ratio is presently 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.