Granite Real Estate (NYSE:GRP.U) Sees Unusually-High Trading Volume - Should You Buy?

Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report) shares saw strong 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.

Analyst Ratings Changes

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

Granite Real Estate Trading Down 1.9%

The business's 50-day simple moving average is $48.01 and its two-hundred day simple moving average is $47.74. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.05 billion and a PE ratio of 13.72.

Granite Real Estate Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.2084 per share. This is a positive change from Granite Real Estate's previous monthly dividend of $0.20. This represents a $2.50 annualized dividend and a yield of 5.03%. The ex-dividend date is Monday, June 30th. Granite Real Estate's dividend payout ratio (DPR) is currently 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.

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