Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Down - Should You Sell?

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $47.97, but opened at $46.55. Granite Real Estate Inc. Staple shares last traded at $46.93, with a volume of 15,556 shares changing hands.

Analyst Ratings Changes

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 stock's 50-day simple moving average is $47.75 and its 200 day simple moving average is $52.31. 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 company has a market cap of $2.94 billion and a PE ratio of 13.18.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.1997 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Granite Real Estate Inc. Staple's previous monthly dividend of $0.20. 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.