Granite Real Estate Inc. Staple (NYSE:GRP.U) to Post Q2 2023 Earnings of $0.94 Per Share, Desjardins Forecasts

Granite Real Estate Inc. Staple (NYSE:GRP.U – Get Rating) – Equities research analysts at Desjardins increased their Q2 2023 EPS estimates for shares of Granite Real Estate Inc. Staple in a research note issued on Sunday, May 14th. Desjardins analyst K. Stanley now forecasts that the company will post earnings per share of $0.94 for the quarter, up from their prior forecast of $0.90. The consensus estimate for Granite Real Estate Inc. Staple’s current full-year earnings is $3.67 per share. Desjardins also issued estimates for Granite Real Estate Inc. Staple’s Q4 2023 earnings at $0.94 EPS.

Separately, StockNews.com initiated coverage on shares of Granite Real Estate Inc. Staple in a research note on Thursday, March 16th. They set a “hold” rating for the company.

Granite Real Estate Inc. Staple Stock Performance

NYSE:GRP.U opened at $59.90 on Tuesday. Granite Real Estate Inc. Staple has a twelve month low of $45.83 and a twelve month high of $73.38. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $60.79 and a 200-day moving average of $58.48. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -15.40 and a beta of 1.06.

Granite Real Estate Inc. Staple Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were issued a $0.197 dividend. This represents a $2.36 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, April 27th. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. Granite Real Estate Inc. Staple’s payout ratio is -60.67%.

Granite Real Estate Inc. Staple Company Profile

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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.