Granite Real Estate Inc. Staple (NYSE:GRP.U) Hits New 52-Week Low – Time to Sell?

Granite Real Estate Inc. Staple (NYSE:GRP.U)’s stock price reached a new 52-week low on Friday . The company traded as low as $47.25 and last traded at $47.25, with a volume of 1333 shares changing hands. The stock had previously closed at $48.49.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Granite Real Estate Inc. Staple from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Granite Real Estate Inc. Staple Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $2.96 billion and a price-to-earnings ratio of 13.20. The business’s 50 day moving average price is $51.46 and its 200-day moving average price is $53.85.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.1979 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 5.03%. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 31st. Granite Real Estate Inc. Staple’s dividend payout ratio is 49.44%.

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.