Raymond James Issues Pessimistic Outlook for GRP.U Earnings

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Stock analysts at Raymond James decreased their Q3 2024 EPS estimates for Granite Real Estate Inc. Staple in a research report issued to clients and investors on Wednesday, October 23rd. Raymond James analyst B. Sturges now anticipates that the company will earn $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 $3.89 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.

Granite Real Estate Inc. Staple Stock Performance

Shares of Granite Real Estate Inc. Staple stock opened at $53.51 on Friday. Granite Real Estate Inc. Staple has a 12-month low of $45.35 and a 12-month 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 stock has a market cap of $3.36 billion, a PE ratio of 21.23 and a beta of 1.21. The company has a 50-day moving average of $57.41 and a two-hundred day moving average of $53.44.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.1994 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.39 dividend on an annualized basis and a dividend yield of 4.47%. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 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.