Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Up – What’s Next?

Granite Real Estate Inc. Staple (NYSE:GRP.U) shares gapped up prior to trading on Wednesday . The stock had previously closed at $55.00, but opened at $59.32. Granite Real Estate Inc. Staple shares last traded at $54.00, with a volume of 501 shares.

Granite Real Estate Inc. Staple Price Performance

The firm’s fifty day moving average price is $57.38 and its 200-day moving average price is $53.44. 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 stock has a market cap of $3.35 billion, a P/E ratio of 21.83 and a beta of 1.21.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.1994 per share. This represents a $2.39 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Thursday, October 31st. Granite Real Estate Inc. Staple’s payout ratio is 96.83%.

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.