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 before the market opened on Thursday . The stock had previously closed at $49.32, but opened at $48.00. Granite Real Estate Inc. Staple shares last traded at $48.00, with a volume of 100 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 10th.

Granite Real Estate Inc. Staple Stock Down 2.7 %

The stock’s fifty day simple moving average is $53.01 and its two-hundred day simple moving average is $53.91. 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 $3.01 billion and a price-to-earnings ratio of 13.41.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.1979 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.38 annualized dividend and a yield of 4.95%. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 68.16%.

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.