GRP.U FY2024 EPS Forecast Cut by National Bank Financial

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Granite Real Estate Inc. Staple in a report released on Sunday, December 15th. National Bank Financial analyst M. Kornack now forecasts that the company will earn $3.81 per share for the year, down from their prior forecast of $3.85. The consensus estimate for Granite Real Estate Inc. Staple’s current full-year earnings is $3.88 per share. National Bank Financial also issued estimates for Granite Real Estate Inc. Staple’s Q4 2024 earnings at $0.99 EPS, FY2025 earnings at $4.17 EPS and FY2026 earnings at $4.51 EPS.

Separately, StockNews.com upgraded Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 10th.

Granite Real Estate Inc. Staple Price Performance

Shares of NYSE GRP.U opened at $50.81 on Tuesday. The company’s fifty day moving average is $53.99 and its two-hundred day moving average is $53.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $3.19 billion and a P/E ratio of 14.19. Granite Real Estate Inc. Staple has a one year low of $47.31 and a one year high of $65.63.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.1957 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Wednesday, November 27th. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is presently 68.16%.

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.