Granite Real Estate Inc. Staple (NYSE:GRP.U) Lowered to Buy Rating by 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 note issued to investors on Wednesday.

Granite Real Estate Inc. Staple Stock Performance

GRP.U traded down $0.58 on Wednesday, hitting $48.49. The company’s stock had a trading volume of 12,443 shares, compared to its average volume of 6,209. Granite Real Estate Inc. Staple has a 12 month low of $47.31 and a 12 month high of $65.63. The firm has a market cap of $3.04 billion and a P/E ratio of 13.54. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The company’s 50 day simple moving average is $51.70 and its 200-day simple moving average is $53.88.

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.