Granite Real Estate (NYSE:GRP.U) Trading 0.9% Higher - What's Next?

Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report)'s share price shot up 0.9% during mid-day trading on Monday . The stock traded as high as $52.98 and last traded at $52.73. 2,200 shares changed hands during trading, a decline of 81% from the average session volume of 11,661 shares. The stock had previously closed at $52.27.

Wall Street Analysts Forecast Growth

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

Granite Real Estate Trading Down 0.4%

The company has a market cap of $3.20 billion and a P/E ratio of 14.40. 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 business has a 50 day moving average price of $50.55 and a 200-day moving average price of $47.99.

Granite Real Estate Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.2084 per share. This is an increase from Granite Real Estate's previous monthly dividend of $0.20. The ex-dividend date was Monday, June 30th. This represents a $2.50 annualized dividend and a yield of 4.80%. Granite Real Estate's dividend payout ratio (DPR) is currently 16.57%.

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.