Granite Real Estate Inc. Staple (NYSE:GRP.U) Sets New 52-Week High at $59.80

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $59.80 and last traded at $59.75, with a volume of 2744 shares changing hands. The stock had previously closed at $59.65.

Granite Real Estate Inc. Staple Stock Performance

The firm has a fifty day moving average price of $54.29 and a 200 day moving average price of $52.88. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.52. The firm has a market cap of $3.76 billion, a PE ratio of 23.79 and a beta of 1.20.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.199 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.39 annualized dividend and a yield of 3.98%. Granite Real Estate Inc. Staple’s payout ratio is 94.84%.

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.