Granite Real Estate Inc. Staple (NYSE:GRP.U) Cut to Buy at 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 report released on Wednesday morning.

Granite Real Estate Inc. Staple Trading Down 1.2 %

NYSE:GRP.U opened at $48.49 on Wednesday. The company has a 50-day moving average price of $51.70 and a 200-day moving average price of $53.88. The stock has a market cap of $3.04 billion and a price-to-earnings 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.

Granite Real Estate Inc. Staple Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.1979 per share. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.38 dividend on an annualized basis and a dividend yield of 4.90%. Granite Real Estate Inc. Staple’s dividend payout ratio is 49.44%.

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.