Granite Real Estate Inc. Staple (NYSE:GRP.U) Upgraded to Strong-Buy by 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 research report report published on Friday.

Granite Real Estate Inc. Staple Stock Down 0.2 %

Shares of GRP.U opened at $50.35 on Friday. Granite Real Estate Inc. Staple has a 52 week low of $45.35 and a 52 week high of $65.63. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 21.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.37 and a current ratio of 0.37. The business’s fifty day moving average price is $57.53 and its two-hundred day moving average price is $53.45.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.1994 dividend. This represents a $2.39 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Thursday, October 31st. Granite Real Estate Inc. Staple’s dividend payout ratio is presently 91.39%.

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.