Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Up 0.6%

Granite Real Estate Inc. Staple (NYSE:GRP.U) shot up 0.6% on Wednesday . The stock traded as high as $50.74 and last traded at $50.74. 1,929 shares changed hands during trading, a decline of 88% from the average session volume of 15,826 shares. The stock had previously closed at $50.45.

Wall Street Analysts Forecast Growth

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

Granite Real Estate Inc. Staple Stock Performance

The stock has a market cap of $3.30 billion, a PE ratio of 20.88 and a beta of 1.19. The company has a fifty day moving average price of $50.13 and a 200 day moving average price of $53.40. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.57.

Granite Real Estate Inc. Staple Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 4.56%. Granite Real Estate Inc. Staple’s payout ratio is presently 89.68%.

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.