Raymond James Issues Pessimistic Forecast for GRP.U Earnings

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Stock analysts at Raymond James decreased their FY2024 EPS estimates for Granite Real Estate Inc. Staple in a research report issued to clients and investors on Monday, January 13th. Raymond James analyst B. Sturges now expects that the company will earn $3.71 per share for the year, down from their previous 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 upgraded shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

Granite Real Estate Inc. Staple Price Performance

Shares of GRP.U stock opened at $48.27 on Thursday. The firm’s fifty day moving average price is $51.22 and its two-hundred day moving average price is $53.86. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. Granite Real Estate Inc. Staple has a 1 year low of $46.75 and a 1 year high of $65.63.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.1979 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.38 annualized dividend and a dividend yield of 4.92%. Granite Real Estate Inc. Staple’s payout ratio is 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.