Granite Real Estate Inc. Staple (NYSE:GRP.U) Reaches New 1-Year High – Here’s Why

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $65.63 and last traded at $65.63, with a volume of 1198 shares trading hands. The stock had previously closed at $59.69.

Granite Real Estate Inc. Staple Price Performance

The stock has a market capitalization of $3.76 billion, a P/E ratio of 23.69 and a beta of 1.21. The company’s 50 day simple moving average is $56.31 and its two-hundred day simple moving average is $53.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.37 and a quick ratio of 0.37.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a dividend of $0.204 per share. This represents a $2.45 dividend on an annualized basis and a yield of 4.08%. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. The ex-dividend date of this dividend is Friday, September 27th. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 96.83%.

About Granite Real Estate Inc. Staple

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.