Granite Real Estate Inc. Staple (NYSE:GRP.U) Hits New 52-Week High at $59.80

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.80 and last traded at $59.75, with a volume of 2744 shares trading hands. The stock had previously closed at $59.65.

Granite Real Estate Inc. Staple Trading Up 0.5 %

The company has a 50 day moving average of $54.29 and a 200-day moving average of $52.88. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 23.79 and a beta of 1.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.37 and a current ratio of 0.37.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.199 per share. The ex-dividend date is Friday, August 30th. This represents a $2.39 annualized dividend and a dividend yield of 3.98%. Granite Real Estate Inc. Staple’s dividend payout ratio is presently 94.84%.

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.