Granite Real Estate Inc. Staple (NYSE:GRP.U) Trading 7.8% Higher - Should You Buy?

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) shares rose 7.8% on Tuesday . The stock traded as high as $42.10 and last traded at $42.08. Approximately 1,193 shares were traded during trading, a decline of 92% from the average daily volume of 14,399 shares. The stock had previously closed at $39.05.

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 research report on Thursday, January 16th.

Granite Real Estate Inc. Staple Stock Up 1.7 %

The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $46.49 and a 200-day simple moving average of $50.34. The firm has a market cap of $2.65 billion and a P/E ratio of 11.91.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.1981 per share. The ex-dividend date is Monday, March 31st. This represents a $2.38 dividend on an annualized basis and a dividend yield of 5.58%. Granite Real Estate Inc. Staple's dividend payout ratio (DPR) is presently 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.