Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Down – What’s Next?

Granite Real Estate Inc. Staple (NYSE:GRP.U) gapped down prior to trading on Tuesday . The stock had previously closed at $47.97, but opened at $46.55. Granite Real Estate Inc. Staple shares last traded at $46.93, with a volume of 15,556 shares.

Analyst Upgrades and Downgrades

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

Granite Real Estate Inc. Staple Stock Performance

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 company has a fifty day moving average price of $47.82 and a two-hundred day moving average price of $52.46. The firm has a market cap of $2.91 billion and a price-to-earnings ratio of 13.04.

Granite Real Estate Inc. Staple Increases Dividend

The business 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 $0.1997 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.40 annualized dividend and a dividend yield of 5.13%. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 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.