Granite Real Estate Inc. Staple (NYSE:GRP.U) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Granite Real Estate Inc. Staple Price Performance

GRP.U stock opened at $53.49 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.37 and a quick ratio of 0.37. The company’s 50-day moving average is $57.49 and its 200-day moving average is $53.47. The stock has a market capitalization of $3.36 billion, a PE ratio of 20.01 and a beta of 1.21. Granite Real Estate Inc. Staple has a 1 year low of $45.60 and a 1 year high of $65.63.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.1994 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.39 annualized dividend and a yield of 4.47%. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 91.39%.

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.