Granite Real Estate Inc. Staple (NYSE:GRP.U) Reaches New 1-Year Low - Should You Sell?

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $44.00 and last traded at $47.50, with a volume of 2873 shares traded. The stock had previously closed at $47.80.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Granite Real Estate Inc. Staple from a "buy" rating to a "strong-buy" rating in a research note on Thursday, January 16th.

Granite Real Estate Inc. Staple Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50 day moving average of $47.66 and a two-hundred day moving average of $51.99. The stock has a market cap of $2.93 billion and a P/E ratio of 13.16.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.1981 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.38 annualized dividend and a yield of 5.05%. Granite Real Estate Inc. Staple's dividend payout ratio (DPR) is currently 32.85%.

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.