Raymond James Issues Negative Estimate for GRP.U Earnings

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Equities researchers at Raymond James reduced their Q3 2024 EPS estimates for shares of Granite Real Estate Inc. Staple in a research report issued on Wednesday, October 23rd. Raymond James analyst B. Sturges now expects that the company will post earnings of $0.96 per share for the quarter, down from their previous forecast of $0.97. The consensus estimate for Granite Real Estate Inc. Staple’s current full-year earnings is $3.90 per share. Raymond James also issued estimates for Granite Real Estate Inc. Staple’s Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $3.82 EPS, Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $1.07 EPS, FY2025 earnings at $4.18 EPS, Q2 2026 earnings at $1.13 EPS, Q3 2026 earnings at $1.12 EPS and FY2026 earnings at $4.50 EPS.

Separately, StockNews.com raised Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Granite Real Estate Inc. Staple Stock Performance

GRP.U stock opened at $50.35 on Friday. Granite Real Estate Inc. Staple has a 1-year low of $45.35 and a 1-year high of $65.63. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.52. The firm has a market cap of $3.16 billion, a PE ratio of 19.98 and a beta of 1.21. The business’s 50-day moving average price is $57.53 and its two-hundred day moving average price is $53.43.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.1994 dividend. This represents a $2.39 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Thursday, October 31st. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is presently 96.83%.

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.