Granite Real Estate Inc. Staple (NYSE:GRP.U) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) from a buy rating to a strong-buy rating in a report issued on Thursday.

Granite Real Estate Inc. Staple Price Performance

Shares of Granite Real Estate Inc. Staple stock opened at $47.45 on Thursday. The stock has a market capitalization of $2.98 billion and a price-to-earnings ratio of 13.25. Granite Real Estate Inc. Staple has a twelve month low of $46.75 and a twelve month high of $65.63. 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 has a 50-day simple moving average of $51.12 and a two-hundred day simple moving average of $53.82.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.1979 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Tuesday, December 31st. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 49.72%.

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.