Granite Real Estate Inc. Staple (NYSE:GRP.U) Sees Large Volume Increase - Time to Buy?

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 14,696 shares were traded during mid-day trading, a decline of 2% from the previous session's volume of 15,062 shares.The stock last traded at $48.13 and had previously closed at $47.24.

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 research report on Thursday, January 16th.

Granite Real Estate Inc. Staple Stock Performance

The stock's 50-day simple moving average is $47.92 and its 200-day simple moving average is $52.58. The stock has a market cap of $2.91 billion and a price-to-earnings ratio of 13.06. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57.

Granite Real Estate Inc. Staple Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.1997 dividend. The ex-dividend date is Friday, February 28th. This is a boost from Granite Real Estate Inc. Staple's previous monthly dividend of $0.20. This represents a $2.40 annualized dividend and a dividend yield of 5.13%. Granite Real Estate Inc. Staple's payout ratio is presently 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.