Granite Real Estate Inc. Staple (NYSE:GRP.U) Sees Large Volume Increase – Here’s Why

Granite Real Estate Inc. Staple (NYSE:GRP.U) saw strong trading volume on Friday . 14,684 shares traded hands during trading, an increase of 1% from the previous session’s volume of 14,512 shares.The stock last traded at $46.43 and had previously closed at $46.71.

Analysts Set New Price Targets

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

Granite Real Estate Inc. Staple Stock Up 1.9 %

The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.94 billion and a price-to-earnings ratio of 13.21. The business’s fifty day moving average is $47.78 and its two-hundred day moving average is $52.42.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.1997 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s payout ratio is currently 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.