Granite Real Estate Inc. Staple (NYSE:GRP.U) Sets New 1-Year Low – What’s Next?

Granite Real Estate Inc. Staple (NYSE:GRP.U) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $47.25 and last traded at $47.25, with a volume of 1333 shares trading hands. The stock had previously closed at $48.49.

Analysts Set New Price Targets

Separately, StockNews.com cut Granite Real Estate Inc. Staple from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Granite Real Estate Inc. Staple Stock Down 2.6 %

The firm has a 50-day simple moving average of $51.59 and a 200 day simple moving average of $53.84. The company has a market capitalization of $2.96 billion and a PE ratio of 13.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.1979 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.38 dividend on an annualized basis and a yield of 5.03%. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 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.