Granite Real Estate (NYSE:GRP.U) Trading Down 0.7% – Here’s Why

Granite Real Estate Inc. (NYSE:GRP.U)’s share price was down 0.7% during mid-day trading on Monday . The stock traded as low as $55.30 and last traded at $55.39. Approximately 7,080 shares were traded during trading, The stock had previously closed at $55.76.

Granite Real Estate Trading Down 0.7%

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $55.81 and its 200-day moving average is $50.86.

Granite Real Estate Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be paid a dividend of $0.206 per share. This is a positive change from Granite Real Estate’s previous monthly dividend of $0.20. The ex-dividend date of this dividend is Monday, September 29th. This represents a c) annualized dividend and a yield of 4.5%. Granite Real Estate’s payout ratio is presently 5.18%.

About Granite Real Estate

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.