Granite Real Estate (NYSE:GRP.U) Hits New 52-Week High – Still a Buy?

Granite Real Estate Inc. (NYSE:GRP.U)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $59.90 and last traded at $59.8940, with a volume of 1071 shares trading hands. The stock had previously closed at $59.22.

Granite Real Estate Trading Up 1.3%

The firm has a market cap of $3.63 billion and a price-to-earnings ratio of 17.80. The business has a 50 day moving average of $56.09 and a 200 day moving average of $55.08. 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 Company Profile

Granite Real Estate (NYSE:GRP.U) is a publicly traded real estate investment trust that owns and manages a diversified portfolio of commercial properties across the United States. The company specializes in acquiring, developing and operating industrial, office, retail and multi-family assets, with an emphasis on long-term net-lease agreements. Through its disciplined investment approach, Granite Real Estate seeks to generate stable, recurring income by partnering with creditworthy tenants under triple-net lease structures.

The trust’s holdings include modern warehousing and distribution facilities, professional office buildings and multi-tenant retail centers located in key U.S.