Granite Real Estate Inc. Staple (NYSE:GRP.U) Increases Dividend to $0.20 Per Share

Granite Real Estate Inc. Staple (NYSE:GRP.U) announced a monthly dividend on Wednesday, December 18th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.1979 per share on Wednesday, January 15th. This represents a $2.38 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is 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 Trading Down 2.3 %

GRP.U stock traded down $1.18 on Wednesday, reaching $49.54. The company’s stock had a trading volume of 2,973 shares, compared to its average volume of 13,593. 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 business has a fifty day simple moving average of $53.99 and a two-hundred day simple moving average of $53.95. The firm has a market cap of $3.11 billion and a PE ratio of 13.84. Granite Real Estate Inc. Staple has a 12-month low of $47.31 and a 12-month high of $65.63.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 10th.

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.