Q3 2024 EPS Estimates for Granite Real Estate Inc. Staple (NYSE:GRP.U) Cut by Analyst

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Equities research analysts at Desjardins lowered their Q3 2024 earnings estimates for shares of Granite Real Estate Inc. Staple in a research report issued to clients and investors on Sunday, August 11th. Desjardins analyst K. Stanley now anticipates that the company will post earnings of $0.99 per share for the quarter, down from their prior forecast of $1.00. The consensus estimate for Granite Real Estate Inc. Staple’s current full-year earnings is $3.93 per share. Desjardins also issued estimates for Granite Real Estate Inc. Staple’s Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $3.91 EPS, FY2025 earnings at $4.14 EPS and FY2026 earnings at $4.51 EPS.

Separately, StockNews.com raised Granite Real Estate Inc. Staple from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

Granite Real Estate Inc. Staple Stock Performance

Shares of NYSE GRP.U opened at $52.45 on Wednesday. The firm’s 50-day moving average price is $51.32 and its 200-day moving average price is $52.73. Granite Real Estate Inc. Staple has a 52-week low of $45.35 and a 52-week high of $59.78. The company has a market cap of $3.29 billion, a PE ratio of 20.81 and a beta of 1.19. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.57.

Granite Real Estate Inc. Staple Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.201 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.60%. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, July 31st. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is presently 94.84%.

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.