Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Up 7.2% - Time to Buy?

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report)'s share price rose 7.2% during trading on Friday . The company traded as high as $54.32 and last traded at $54.18. Approximately 2,834 shares changed hands during trading, a decline of 80% from the average daily volume of 14,378 shares. The stock had previously closed at $50.56.

Analyst Ratings Changes

Separately, StockNews.com raised Granite Real Estate Inc. Staple from a "buy" rating to a "strong-buy" rating in a report on Friday, October 25th.

Granite Real Estate Inc. Staple Stock Performance

The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $3.36 billion, a PE ratio of 20.07 and a beta of 1.21. The stock's 50 day moving average price is $57.60 and its two-hundred day moving average price is $53.43.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.1994 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.39 annualized dividend and a dividend yield of 4.46%. Granite Real Estate Inc. Staple's dividend payout ratio is currently 91.39%.

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.