Granite Real Estate Inc. Staple (NYSE:GRP.U) Hits New 12-Month Low – Should You Sell?

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) reached a new 52-week low during trading on Tuesday . The company traded as low as $44.00 and last traded at $47.50, with a volume of 2873 shares trading hands. The stock had previously closed at $47.80.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 16th.

Granite Real Estate Inc. Staple Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a 50-day simple moving average of $47.72 and a 200-day simple moving average of $52.21. The stock has a market cap of $2.95 billion and a P/E ratio of 13.25.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.1997 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was 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’s payout ratio is currently 32.85%.

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.