Granite Real Estate Inc. Staple to Issue Monthly Dividend of $0.20 (NYSE:GRP.U)

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) announced a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.1981 per share on Tuesday, April 15th. This represents a $2.38 annualized dividend and a yield of 5.05%. The ex-dividend date is Monday, March 31st.

Granite Real Estate Inc. Staple Stock Performance

Shares of Granite Real Estate Inc. Staple stock traded down $0.53 during trading hours on Friday, hitting $47.12. 69,174 shares of the company's stock traded hands, compared to its average volume of 14,647. The stock has a market capitalization of $2.93 billion and a price-to-earnings ratio of 13.16. 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 has a 12-month low of $44.00 and a 12-month high of $65.63. The company has a fifty day simple moving average of $47.66 and a 200-day simple moving average of $52.02.

Analysts Set New Price Targets

Separately, StockNews.com raised Granite Real Estate Inc. Staple from a "buy" rating to a "strong-buy" rating in a report on Thursday, January 16th.

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.