Granite Real Estate Inc. Staple (NYSE:GRP.U) Plans Dividend Increase – $0.20 Per Share

Granite Real Estate Inc. Staple (NYSE:GRP.U) announced a monthly dividend on Wednesday, December 18th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.1979 per share on Wednesday, January 15th. This represents a $2.38 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20.

Granite Real Estate Inc. Staple Stock Performance

NYSE:GRP.U traded down $1.18 on Wednesday, hitting $49.54. The stock had a trading volume of 2,973 shares, compared to its average volume of 13,593. The business’s 50-day simple moving average is $53.99 and its two-hundred day simple moving average is $53.95. The stock has a market cap of $3.11 billion and a price-to-earnings ratio of 13.84. Granite Real Estate Inc. Staple has a 52-week low of $47.31 and a 52-week high of $65.63. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 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.