Granite Real Estate Inc. Staple (NYSE:GRP.U) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) from a buy rating to a strong-buy rating in a research report released on Thursday morning.

Granite Real Estate Inc. Staple Stock Down 1.7 %

Granite Real Estate Inc. Staple stock opened at $47.45 on Thursday. The firm’s fifty day moving average is $51.12 and its 200 day moving average is $53.82. The company has a market capitalization of $2.98 billion and a PE ratio of 13.25. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Granite Real Estate Inc. Staple has a 12-month low of $46.75 and a 12-month high of $65.63.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.1979 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 49.72%.

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.