Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Up – Time to Buy?

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) gapped up before the market opened on Wednesday . The stock had previously closed at $55.00, but opened at $59.32. Granite Real Estate Inc. Staple shares last traded at $54.00, with a volume of 501 shares changing hands.

Granite Real Estate Inc. Staple Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $3.35 billion, a P/E ratio of 21.83 and a beta of 1.21. The business has a 50-day moving average price of $57.38 and a 200 day moving average price of $53.44.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.1994 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.39 annualized dividend and a dividend yield of 4.48%. Granite Real Estate Inc. Staple’s payout ratio is presently 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.