Granite Real Estate Inc. Staple (NYSE:GRP.U) Hits New 52-Week High Following Dividend Announcement

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

The newly announced dividend which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a $0.204 dividend. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. The ex-dividend date is Friday, September 27th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.06%. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 94.84%.

Granite Real Estate Inc. Staple Price Performance

The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.52. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 23.91 and a beta of 1.20. The stock has a 50-day moving average of $54.84 and a two-hundred day moving average of $53.02.

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.