Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Up – Time to Buy?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $43.38, but opened at $44.50. Granite Real Estate Inc. Staple shares last traded at $44.12, with a volume of 126 shares traded.

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 report on Thursday, January 16th.

Granite Real Estate Inc. Staple Price Performance

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 stock’s fifty day simple moving average is $46.38 and its 200-day simple moving average is $50.16. The company has a market capitalization of $2.75 billion and a P/E ratio of 12.32.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.1981 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Monday, March 31st. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 28.06%.

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.