Granite Real Estate Inc. Staple (NYSE:GRP.U) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

Granite Real Estate Inc. Staple Price Performance

Shares of Granite Real Estate Inc. Staple stock opened at $48.49 on Wednesday. The firm has a market capitalization of $3.04 billion and a PE ratio of 13.54. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. Granite Real Estate Inc. Staple has a 12 month low of $47.31 and a 12 month high of $65.63. The business’s 50-day moving average price is $51.70 and its 200-day moving average price is $53.88.

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 given a $0.1979 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.38 annualized dividend and a yield of 4.90%. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s payout ratio is presently 49.44%.

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.