Granite Real Estate Inc. Staple (NYSE:GRP.U) Announces Monthly Dividend of $0.20

Granite Real Estate Inc. Staple (NYSE:GRP.U) declared a monthly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.1997 per share on Friday, March 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20.

Granite Real Estate Inc. Staple Price Performance

Shares of NYSE GRP.U traded down $0.02 during trading hours on Tuesday, reaching $48.33. 8,850 shares of the stock traded hands, compared to its average volume of 13,905. The company has a market capitalization of $3.03 billion and a P/E ratio of 13.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Granite Real Estate Inc. Staple has a 52-week low of $45.45 and a 52-week high of $65.63. The company’s 50-day simple moving average is $48.66 and its two-hundred day simple moving average is $53.15.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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 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.