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 research note published on Friday.

Granite Real Estate Inc. Staple Trading Down 0.2 %

Shares of NYSE: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 stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 19.98 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 stock’s 50-day simple moving average is $57.53 and its two-hundred day simple moving average is $53.41.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.1994 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.39 dividend on an annualized basis and a yield of 4.75%. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 96.83%.

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.