Granite Real Estate Inc. Staple (NYSE:GRP.U) Hits New 52-Week High Following Dividend Announcement

Shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $59.80 and last traded at $59.75, with a volume of 2744 shares traded. The stock had previously closed at $59.65.

The newly announced dividend which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be paid a $0.204 dividend. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.45 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, September 27th. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 94.84%.

Granite Real Estate Inc. Staple Price Performance

The stock has a 50 day moving average price of $54.84 and a two-hundred day moving average price of $53.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $3.78 billion, a PE ratio of 23.91 and a beta of 1.20.

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.