Granite Real Estate Inc. Staple (NYSE:GRP.U) Sees Strong Trading Volume – What’s Next?

Granite Real Estate Inc. Staple (NYSE:GRP.U) shares saw an uptick in trading volume on Friday . 30,570 shares traded hands during mid-day trading, an increase of 109% from the previous session’s volume of 14,626 shares.The stock last traded at $45.27 and had previously closed at $44.56.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 16th.

Granite Real Estate Inc. Staple Stock Down 0.3 %

The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $45.73 and a 200-day simple moving average of $49.33. The stock has a market cap of $2.83 billion and a P/E ratio of 12.71.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2042 per share. This represents a $2.45 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Wednesday, April 30th. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s payout ratio is currently 28.06%.

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.