Granite Real Estate Inc. Staple (NYSE:GRP.U) Reaches New 52-Week Low – Should You Sell?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $44.00 and last traded at $47.50, with a volume of 2873 shares trading hands. The stock had previously closed at $47.80.

Analysts Set New Price Targets

Separately, StockNews.com raised Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 16th.

Granite Real Estate Inc. Staple Trading Up 0.4 %

The company has a market cap of $2.98 billion and a price-to-earnings ratio of 13.35. The firm’s 50-day moving average price is $47.68 and its 200 day moving average price is $52.12. 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 Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.1981 per share. This represents a $2.38 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Monday, March 31st. Granite Real Estate Inc. Staple’s payout ratio is presently 32.85%.

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.