Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Down – Should You Sell?

Posted by Trent Williams on Mar 19th, 2025

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $47.79, but opened at $44.00. Granite Real Estate Inc. Staple shares last traded at $47.66, with a volume of 9,730 shares traded.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on GRP.U

Granite Real Estate Inc. Staple Trading Down 0.6 %

The firm has a market cap of $2.95 billion and a price-to-earnings ratio of 13.21. The company’s 50-day moving average price is $47.69 and its 200-day moving average price is $52.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.1981 dividend. This represents a $2.38 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend is Monday, March 31st. Granite Real Estate Inc. Staple’s payout ratio is 32.85%.

About Granite Real Estate Inc. Staple

(Get Free Report)

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.