Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $47.25 and last traded at $47.25, with a volume of 1333 shares changing hands. The stock had previously closed at $48.49.
Analysts Set New Price Targets
Separately, StockNews.com lowered Granite Real Estate Inc. Staple from a "strong-buy" rating to a "buy" rating in a research note on Wednesday.
Check Out Our Latest Stock Report on GRP.U
Granite Real Estate Inc. Staple Stock Down 2.6 %
The business has a 50 day moving average price of $51.46 and a 200 day moving average price of $53.83. The firm has a market capitalization of $2.96 billion and a P/E ratio of 13.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34.
Granite Real Estate Inc. Staple Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.1979 per share. This represents a $2.38 dividend on an annualized basis and a yield of 5.03%. This is an increase from Granite Real Estate Inc. Staple's previous monthly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 31st. Granite Real Estate Inc. Staple's payout ratio is presently 49.44%.
Granite Real Estate Inc. Staple Company Profile
(
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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.
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