Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Up 8.3% – Should You Buy?

Granite Real Estate Inc. Staple (NYSE:GRP.U) traded up 8.3% during 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 stock’s 50-day moving average price is $56.99 and its 200-day moving average price is $53.42. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.52. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 22.57 and a beta of 1.21.

Granite Real Estate Inc. Staple Increases Dividend

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