Granite Real Estate Inc. Staple (NYSE:GRP.U) Increases Dividend to $0.20 Per Share

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) announced a monthly dividend on Tuesday, February 18th, Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.1997 per share on Friday, March 14th. This represents a $2.40 annualized dividend and a yield of 5.02%. The ex-dividend date is Friday, February 28th. This is a positive change from Granite Real Estate Inc. Staple's previous monthly dividend of $0.20.

Granite Real Estate Inc. Staple Stock Down 0.2 %

Granite Real Estate Inc. Staple stock traded down $0.10 during midday trading on Friday, hitting $47.75. 11,159 shares of the stock were exchanged, compared to its average volume of 15,005. Granite Real Estate Inc. Staple has a 1 year low of $45.45 and a 1 year high of $65.63. The firm has a market cap of $3.00 billion and a P/E ratio of 13.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The company has a 50 day moving average price of $48.46 and a two-hundred day moving average price of $53.05.

Wall Street Analyst Weigh In

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.

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.