Granite Real Estate Inc. Staple (NYSE:GRP.U) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) from a buy rating to a strong-buy rating in a report issued on Sunday.

Granite Real Estate Inc. Staple Stock Performance

Shares of NYSE:GRP.U opened at $54.36 on Friday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 15.37 and a beta of 1.21. Granite Real Estate Inc. Staple has a 1-year low of $47.31 and a 1-year high of $65.63. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $57.14 and a two-hundred day moving average price of $53.61.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.1994 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.39 annualized dividend and a dividend yield of 4.40%. Granite Real Estate Inc. Staple’s payout ratio is currently 68.16%.

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.