Granite Real Estate Inc. Staple (NYSE:GRP.U) Trading Down 0.3% - Time to Sell?

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report)'s share price fell 0.3% on Tuesday . The stock traded as low as $52.00 and last traded at $52.00. 1,584 shares traded hands during trading, a decline of 89% from the average session volume of 13,826 shares. The stock had previously closed at $52.17.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Granite Real Estate Inc. Staple from a "buy" rating to a "strong-buy" rating in a research report on Sunday, November 10th.

Granite Real Estate Inc. Staple Price Performance

The stock has a market cap of $3.21 billion and a price-to-earnings ratio of 14.53. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The stock's 50 day simple moving average is $54.77 and its two-hundred day simple moving average is $53.89.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th will be paid a $0.1957 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.35 dividend on an annualized basis and a yield of 4.59%. Granite Real Estate Inc. Staple's payout ratio is presently 68.16%.

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.