Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Down – Here’s Why

by · The Markets Daily

Granite Real Estate Inc. Staple (NYSE:GRP.U – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $53.14, but opened at $50.00. Granite Real Estate Inc. Staple shares last traded at $54.31, with a volume of 438 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Granite Real Estate Inc. Staple from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd.

View Our Latest Research Report on Granite Real Estate Inc. Staple

Granite Real Estate Inc. Staple Trading Up 2.2 %

The business has a fifty day simple moving average of $57.39 and a 200 day simple moving average of $53.49. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.52. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 20.34 and a beta of 1.21.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.1994 dividend. This represents a $2.39 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, October 31st. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 91.39%.

Granite Real Estate Inc. Staple Company Profile

(Get Free Report)

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.

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