Granite Real Estate (NYSE:GRP.U) Sees Unusually-High Trading Volume - Here's What Happened

Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report) shares saw an uptick in trading volume on Monday . 23,381 shares changed hands during mid-day trading, an increase of 83% from the previous session's volume of 12,792 shares.The stock last traded at $50.50 and had previously closed at $50.50.

Analysts Set New Price Targets

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

Granite Real Estate Stock Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.25 and a current ratio of 1.25. The business has a fifty day simple moving average of $48.46 and a two-hundred day simple moving average of $47.78.

Granite Real Estate Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.2084 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.94%. This is a boost from Granite Real Estate's previous monthly dividend of $0.20. Granite Real Estate's payout ratio is 21.82%.

Granite Real Estate 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.