Granite Real Estate Inc. Staple (NYSE:GRP.U) Sets New 1-Year Low – What’s Next?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $45.57 and last traded at $45.62, with a volume of 947 shares. The stock had previously closed at $49.00.

Wall Street Analyst Weigh In

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

Granite Real Estate Inc. Staple Price Performance

The business’s fifty day simple moving average is $49.51 and its 200 day simple moving average is $53.49. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57.

Granite Real Estate Inc. Staple (NYSE:GRP.U) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.31. Granite Real Estate Inc. Staple had a net margin of 55.97% and a return on equity of 5.71%. The business had revenue of $104.02 million during the quarter. During the same period in the prior year, the company earned $0.92 EPS. On average, analysts anticipate that Granite Real Estate Inc. Staple will post 3.81 earnings per share for the current fiscal year.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.1967 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Friday, January 31st. Granite Real Estate Inc. Staple’s payout ratio is 44.13%.

Granite Real Estate Inc. Staple Company Profile

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.