Granite Real Estate Inc. (NYSE:GRP.U - Get Free Report)'s share price was down 5.9% on Thursday . The company traded as low as $51.66 and last traded at $50.37. Approximately 116 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 12,254 shares. The stock had previously closed at $53.50.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded shares of Granite Real Estate from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 9th.
Check Out Our Latest Research Report on GRP.U
Granite Real Estate Price Performance
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 firm's fifty day moving average price is $48.46 and its 200-day moving average price is $47.78.
Granite Real Estate Increases Dividend
The company also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.2084 per share. The ex-dividend date is Monday, June 30th. This is a boost from Granite Real Estate's previous monthly dividend of $0.20. This represents a $2.50 annualized dividend and a dividend yield of 4.94%. Granite Real Estate's dividend payout ratio (DPR) is 21.82%.
Granite Real Estate Company Profile
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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.
See Also
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