Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Down – What’s Next?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $60.61, but opened at $57.69. Granite Real Estate Inc. Staple shares last traded at $57.69, with a volume of 501 shares changing hands.

Granite Real Estate Inc. Staple Stock Down 4.8 %

The business has a 50 day simple moving average of $56.93 and a 200 day simple moving average of $53.43. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 24.05 and a beta of 1.21. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.37 and a quick ratio of 0.37.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a $0.204 dividend. This represents a $2.45 dividend on an annualized basis and a yield of 4.24%. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. The ex-dividend date of this dividend is Friday, September 27th. Granite Real Estate Inc. Staple’s dividend payout ratio is 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.