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

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $43.38, but opened at $44.50. Granite Real Estate Inc. Staple shares last traded at $44.12, with a volume of 126 shares trading hands.

Wall Street Analysts Forecast Growth

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 market cap of $2.84 billion and a P/E ratio of 12.73. The company's 50 day moving average is $46.06 and its 200 day moving average is $49.80.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.1981 per share. This represents a $2.38 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend was Monday, March 31st. Granite Real Estate Inc. Staple's dividend payout ratio (DPR) is 28.06%.

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.