Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Down – Here’s Why

Granite Real Estate Inc. Staple (NYSE:GRP.U) gapped down prior to trading on Tuesday . The stock had previously closed at $60.61, but opened at $57.69. Granite Real Estate Inc. Staple shares last traded at $57.69, with a volume of 501 shares trading hands.

Granite Real Estate Inc. Staple Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.37 and a quick ratio of 0.37. The company’s 50 day moving average is $57.09 and its 200 day moving average is $53.46. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 22.92 and a beta of 1.21.

Granite Real Estate Inc. Staple Increases Dividend

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