Granite Real Estate Inc. Staple (NYSE:GRP.U) Raises Dividend to $0.20 Per Share

Granite Real Estate Inc. Staple (NYSE:GRP.U) declared a monthly dividend on Wednesday, July 17th, Zacks reports. Stockholders of record on Wednesday, July 31st will be paid a dividend of 0.201 per share on Thursday, August 15th. This represents a $2.41 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Wednesday, July 31st. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20.

Granite Real Estate Inc. Staple Price Performance

GRP.U opened at $52.90 on Tuesday. The stock’s 50 day simple moving average is $50.54 and its 200 day simple moving average is $52.99. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.65 and a quick ratio of 1.65. Granite Real Estate Inc. Staple has a 1 year low of $45.35 and a 1 year high of $59.78. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 20.99 and a beta of 1.19.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Granite Real Estate Inc. Staple from a “hold” rating to a “buy” rating in a research report on Friday, May 10th.

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.