Granite Real Estate Inc. Staple (NYSE:GRP.U) Hits New 52-Week Low – Time to Sell?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $47.25 and last traded at $47.25, with a volume of 1333 shares trading hands. The stock had previously closed at $48.49.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Granite Real Estate Inc. Staple from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Granite Real Estate Inc. Staple Stock Down 2.6 %

The business’s 50 day simple moving average is $51.46 and its 200 day simple moving average is $53.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.96 billion and a PE ratio of 13.20.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.1979 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.38 dividend on an annualized basis and a dividend yield of 5.03%. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 49.44%.

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.