Granite Real Estate (NYSE:GRP.U) Shares Down 2.4% - Should You Sell?

Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report)'s stock price fell 2.4% on Friday . The company traded as low as $52.36 and last traded at $51.71. 1,055 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 11,554 shares. The stock had previously closed at $53.00.

Wall Street Analysts Forecast Growth

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

Granite Real Estate Trading Down 0.4%

The stock has a 50-day moving average of $50.55 and a 200 day moving average of $47.99. The stock has a market cap of $3.20 billion and a PE ratio of 14.40. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

Granite Real Estate Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.2084 dividend. This represents a $2.50 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from Granite Real Estate's previous monthly dividend of $0.20. Granite Real Estate's dividend payout ratio is currently 16.57%.

About Granite Real Estate

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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