Granite Real Estate Inc. Staple (NYSE:GRP.U) Sets New 1-Year Low – Here’s What Happened

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) reached a new 52-week low on Monday . The stock traded as low as $45.57 and last traded at $45.62, with a volume of 947 shares. The stock had previously closed at $49.00.

Wall Street Analyst Weigh In

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

Granite Real Estate Inc. Staple Stock Down 6.9 %

The stock has a market capitalization of $2.86 billion and a P/E ratio of 12.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a fifty day moving average price of $49.80 and a 200 day moving average price of $53.60.

Granite Real Estate Inc. Staple (NYSE:GRP.U) last posted its earnings results on Wednesday, November 6th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.31. Granite Real Estate Inc. Staple had a return on equity of 5.71% and a net margin of 55.97%. The business had revenue of $104.02 million during the quarter. During the same period in the previous year, the firm earned $0.92 EPS. On average, research analysts forecast that Granite Real Estate Inc. Staple will post 3.81 earnings per share for the current year.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.1967 dividend. This represents a $2.36 annualized dividend and a yield of 5.17%. The ex-dividend date is Friday, January 31st. Granite Real Estate Inc. Staple’s dividend payout ratio is presently 44.13%.

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.