Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Up – Time to Buy?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $56.25, but opened at $57.60. Granite Real Estate Inc. Staple shares last traded at $58.01, with a volume of 724 shares traded.

Granite Real Estate Inc. Staple Trading Down 2.2 %

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’s 50 day moving average price is $56.71 and its 200 day moving average price is $53.44.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be given a $0.204 dividend. The ex-dividend date is Friday, September 27th. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.45 annualized dividend and a yield of 4.37%. 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.