Granite Real Estate Inc. Staple (NYSE:GRP.U) Sees Strong Trading Volume – What’s Next?

Granite Real Estate Inc. Staple (NYSE:GRP.U) shares saw unusually-strong trading volume on Thursday . Approximately 14,696 shares were traded during trading, a decline of 2% from the previous session’s volume of 15,062 shares.The stock last traded at $48.13 and had previously closed at $47.24.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of 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 1.2 %

The stock has a market cap of $2.98 billion and a price-to-earnings ratio of 13.29. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average of $47.98 and a two-hundred day moving average of $52.72.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.1997 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 32.85%.

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.