Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Up to $56.05

Granite Real Estate Inc. Staple (NYSE:GRP.U) shares gapped up before the market opened on Thursday . The stock had previously closed at $56.05, but opened at $57.25. Granite Real Estate Inc. Staple shares last traded at $57.25, with a volume of 100 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Granite Real Estate Inc. Staple from a “buy” rating to a “hold” rating in a report on Friday, March 1st.

Granite Real Estate Inc. Staple Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 35.93 and a beta of 1.11. The business has a fifty day moving average price of $55.37 and a two-hundred day moving average price of $53.93.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.203 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.44 dividend on an annualized basis and a yield of 4.33%. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 152.83%.

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.