Granite Real Estate Inc. Staple (NYSE:GRP.U) Announces $0.20 Monthly Dividend

Granite Real Estate Inc. Staple (NYSE:GRP.U) declared a monthly dividend on Monday, June 17th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.20 per share on Monday, July 15th. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, June 28th.

Granite Real Estate Inc. Staple Price Performance

GRP.U stock traded up $0.17 during trading on Thursday, reaching $48.98. 102 shares of the company were exchanged, compared to its average volume of 15,092. The company has a 50-day moving average of $50.20 and a two-hundred day moving average of $53.92. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 19.30 and a beta of 1.17. Granite Real Estate Inc. Staple has a twelve month low of $45.35 and a twelve month high of $60.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.65 and a quick ratio of 1.65.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Granite Real Estate Inc. Staple from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

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.