Raymond James Issues Pessimistic Forecast for GRP.U Earnings

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Stock analysts at Raymond James reduced their FY2024 earnings per share (EPS) estimates for shares of Granite Real Estate Inc. Staple in a report issued on Monday, January 13th. Raymond James analyst B. Sturges now forecasts that the company will post earnings per share of $3.71 for the year, down from their prior forecast of $3.87. The consensus estimate for Granite Real Estate Inc. Staple’s current full-year earnings is $3.86 per share. Raymond James also issued estimates for Granite Real Estate Inc. Staple’s Q4 2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.97 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $1.06 EPS, FY2025 earnings at $4.08 EPS, Q1 2026 earnings at $1.09 EPS, Q2 2026 earnings at $1.11 EPS, Q3 2026 earnings at $1.11 EPS, Q4 2026 earnings at $1.13 EPS and FY2026 earnings at $4.44 EPS.

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

Granite Real Estate Inc. Staple Price Performance

Shares of GRP.U opened at $47.25 on Thursday. Granite Real Estate Inc. Staple has a twelve month low of $46.75 and a twelve month high of $65.63. The company has a market capitalization of $2.96 billion and a P/E ratio of 13.20. The firm has a 50 day moving average of $50.98 and a 200 day moving average of $53.78. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.1979 dividend. This is a boost from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.38 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 49.72%.

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.