Granite Real Estate Inc. Staple (NYSE:GRP.U) Stock Price Up 8.3% – Still a Buy?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s stock price shot up 8.3% during mid-day trading on Monday . The company traded as high as $60.61 and last traded at $60.61. 206 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 14,770 shares. The stock had previously closed at $55.96.

Granite Real Estate Inc. Staple Stock Up 1.5 %

The company has a market capitalization of $3.62 billion, a P/E ratio of 22.57 and a beta of 1.21. The stock has a 50 day moving average price of $56.99 and a 200 day moving average price of $53.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.37 and a current ratio of 0.37.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a dividend of $0.204 per share. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Friday, September 27th. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 96.83%.

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.