Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Up – Should You Buy?

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) gapped up before the market opened on Thursday . The stock had previously closed at $51.40, but opened at $53.44. Granite Real Estate Inc. Staple shares last traded at $53.61, with a volume of 277 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 10th.

Granite Real Estate Inc. Staple Stock Performance

The company has a market cap of $3.36 billion, a price-to-earnings ratio of 14.94 and a beta of 1.21. 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 stock’s fifty day simple moving average is $56.97 and its 200 day simple moving average is $53.63.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.1994 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.39 dividend on an annualized basis and a yield of 4.47%. Granite Real Estate Inc. Staple’s payout ratio is 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.