Granite Real Estate Inc. Staple (NYSE:GRP.U) Shares Gap Down - Time to Sell?

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $45.26, but opened at $43.90. Granite Real Estate Inc. Staple shares last traded at $44.18, with a volume of 2,226 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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 Trading Down 0.3 %

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 fifty day simple moving average of $45.73 and a two-hundred day simple moving average of $49.33. The firm has a market capitalization of $2.83 billion and a P/E ratio of 12.71.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a $0.2042 dividend. The ex-dividend date is Wednesday, April 30th. This is an increase from Granite Real Estate Inc. Staple's previous monthly dividend of $0.20. This represents a $2.45 annualized dividend and a yield of 5.39%. Granite Real Estate Inc. Staple's dividend payout ratio (DPR) is 28.06%.

About Granite Real Estate Inc. Staple

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.