Raymond James Issues Negative Estimate for GRP.U Earnings

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Equities researchers at Raymond James cut their Q3 2024 EPS estimates for Granite Real Estate Inc. Staple in a research note issued to investors on Wednesday, October 23rd. Raymond James analyst B. Sturges now anticipates that the company will post earnings of $0.96 per share for the quarter, down from their prior 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 upgraded shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research note on Friday.

Granite Real Estate Inc. Staple Stock Performance

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

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.1994 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.39 dividend on an annualized basis and a yield of 4.75%. Granite Real Estate Inc. Staple’s payout ratio is presently 96.83%.

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.