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

Granite Real Estate Inc. Staple (NYSE:GRP.U) gapped down before the market opened on Thursday . The stock had previously closed at $49.32, but opened at $48.00. Granite Real Estate Inc. Staple shares last traded at $48.00, with a volume of 100 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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 Trading Down 0.1 %

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 market capitalization of $3.04 billion and a price-to-earnings ratio of 13.52. The company has a 50-day moving average price of $52.69 and a 200-day moving average price of $53.87.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.1979 per share. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.38 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Tuesday, December 31st. Granite Real Estate Inc. Staple’s dividend payout ratio is presently 68.16%.

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.