Granite Real Estate (NYSE:GRP.U) Shares Down 1.5% – Time to Sell?

Granite Real Estate Inc. (NYSE:GRP.U) was down 1.5% during mid-day trading on Monday . The company traded as low as $54.47 and last traded at $54.7750. Approximately 2,286 shares changed hands during mid-day trading, The stock had previously closed at $55.62.

Granite Real Estate Price Performance

The stock has a 50 day simple moving average of $55.43 and a 200 day simple moving average of $54.08. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.56.

Granite Real Estate Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were given a dividend of $0.206 per share. The ex-dividend date was Monday, September 29th. This represents a c) dividend on an annualized basis and a yield of 4.5%. This is an increase from Granite Real Estate’s previous monthly dividend of $0.20.

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.