Raymond James Has Bearish Outlook for GRP.U FY2024 Earnings

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Investment analysts at Raymond James reduced their FY2024 earnings estimates for shares of Granite Real Estate Inc. Staple in a research report issued to clients and investors on Monday, January 13th. Raymond James analyst B. Sturges now forecasts that the company will post earnings of $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 raised shares of Granite Real Estate Inc. Staple from a “buy” rating to a “strong-buy” rating in a report on Thursday.

Granite Real Estate Inc. Staple Stock Down 1.7 %

GRP.U opened at $47.45 on Thursday. The firm’s 50-day simple moving average is $51.12 and its 200-day simple moving average is $53.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.34 and a current ratio of 1.34. Granite Real Estate Inc. Staple has a twelve month low of $46.75 and a twelve month high of $65.63. The firm has a market cap of $2.98 billion and a price-to-earnings ratio of 13.25.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.1979 dividend. This represents a $2.38 annualized dividend and a dividend yield of 5.01%. 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. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 49.72%.

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.