Granite Real Estate Inc. Staple (NYSE:GRP.U) Reaches New 1-Year Low – Should You Sell?

Granite Real Estate Inc. Staple (NYSE:GRP.U) reached a new 52-week low during trading on Wednesday . The company traded as low as $45.38 and last traded at $45.60, with a volume of 27075 shares changing hands. The stock had previously closed at $46.48.

Analyst Ratings Changes

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

Granite Real Estate Inc. Staple Stock Performance

The firm has a market capitalization of $2.84 billion and a price-to-earnings ratio of 12.74. 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 firm has a 50 day moving average price of $47.86 and a 200-day moving average price of $52.50.

Granite Real Estate Inc. Staple Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.1997 per share. This represents a $2.40 annualized dividend and a yield of 5.26%. The ex-dividend date is Friday, February 28th. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s payout ratio is 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.