Granite Real Estate Inc. Staple (NYSE:GRP.U) Reaches New 52-Week Low – Here’s What Happened

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $43.15 and last traded at $43.67, with a volume of 627 shares traded. The stock had previously closed at $46.26.

Wall Street Analysts Forecast Growth

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

Granite Real Estate Inc. Staple Trading Down 6.6 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $2.69 billion and a price-to-earnings ratio of 12.07. The firm has a fifty day moving average price of $47.41 and a 200-day moving average price of $51.21.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.1981 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.38 dividend on an annualized basis and a yield of 5.50%. Granite Real Estate Inc. Staple’s payout ratio is 28.06%.

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.