Granite Real Estate Inc. Staple (NYSE:GRP.U) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) from a buy rating to a strong-buy rating in a research report released on Sunday morning.

Granite Real Estate Inc. Staple Stock Up 1.0 %

Shares of GRP.U traded up $0.55 during trading hours on Friday, reaching $55.16. The company’s stock had a trading volume of 888 shares, compared to its average volume of 14,238. The company has a 50 day moving average of $57.21 and a two-hundred day moving average of $53.55. The company has a quick ratio of 0.37, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 15.25 and a beta of 1.21. Granite Real Estate Inc. Staple has a 1-year low of $46.28 and a 1-year high of $65.63.

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. This represents a $2.39 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Thursday, October 31st. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 68.16%.

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.