Granite Real Estate Inc. Staple (NYSE:GRP.U) Cut to Buy at StockNews.com

Granite Real Estate Inc. Staple (NYSE:GRP.U) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Granite Real Estate Inc. Staple Stock Down 1.2 %

Shares of Granite Real Estate Inc. Staple stock traded down $0.58 on Wednesday, hitting $48.49. The company had a trading volume of 12,443 shares, compared to its average volume of 6,209. Granite Real Estate Inc. Staple has a 1 year low of $47.31 and a 1 year high of $65.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50 day moving average of $51.70 and a 200-day moving average of $53.88. The stock has a market capitalization of $3.04 billion and a price-to-earnings ratio of 13.54.

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.