Granite Real Estate Inc. Staple (NYSE:GRP.U) Sees Strong Trading Volume - Should You Buy?

Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) shares saw an uptick in trading volume on Friday . 15,101 shares traded hands during trading, an increase of 18% from the previous session's volume of 12,844 shares.The stock last traded at $52.44 and had previously closed at $51.68.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Granite Real Estate Inc. Staple from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 9th.

Granite Real Estate Inc. Staple Price Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $3.15 billion and a price-to-earnings ratio of 14.37. The business's fifty day simple moving average is $47.12 and its 200 day simple moving average is $47.83.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.2026 per share. This represents a $2.43 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Friday, May 30th. Granite Real Estate Inc. Staple's payout ratio is 21.82%.

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.