Granite Real Estate Inc. Staple (NYSE:GRP.U) Sets New 1-Year High - Should You Buy?

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.26 and last traded at $45.97, with a volume of 958 shares. The stock had previously closed at $45.95.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Granite Real Estate Inc. Staple from a "buy" rating to a "strong-buy" rating in a report on Thursday, January 16th.

Granite Real Estate Inc. Staple Stock Performance

The company's fifty day moving average is $45.54 and its 200 day moving average is $48.92. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $2.86 billion and a P/E ratio of 12.82.

Granite Real Estate Inc. Staple Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a $0.2042 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 5.34%. This is an increase from Granite Real Estate Inc. Staple's previous monthly dividend of $0.20. The ex-dividend date is Wednesday, April 30th. Granite Real Estate Inc. Staple's dividend payout ratio is presently 23.50%.

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.