Granite Real Estate Inc. Staple (NYSE:GRP.U) Sets New 12-Month Low – What’s Next?

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) hit a new 52-week low on Tuesday . The stock traded as low as $44.00 and last traded at $47.50, with a volume of 2873 shares. The stock had previously closed at $47.80.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 16th.

Granite Real Estate Inc. Staple Trading Up 0.4 %

The company has a market cap of $2.98 billion and a P/E ratio of 13.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50-day moving average is $47.68 and its two-hundred day moving average is $52.12.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.1981 dividend. This represents a $2.38 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Monday, March 31st. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 32.85%.

About Granite Real Estate Inc. Staple

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.