Granite Real Estate Inc. Staple to Post FY2023 Earnings of $3.61 Per Share, National Bank Financial Forecasts (NYSE:GRP.U)

Granite Real Estate Inc. Staple (NYSE:GRP.U) – Analysts at National Bank Financial reduced their FY2023 earnings estimates for shares of Granite Real Estate Inc. Staple in a research note issued to investors on Thursday, November 9th. National Bank Financial analyst M. Kornack now forecasts that the company will earn $3.61 per share for the year, down from their prior estimate of $3.66. The consensus estimate for Granite Real Estate Inc. Staple’s current full-year earnings is $3.60 per share. National Bank Financial also issued estimates for Granite Real Estate Inc. Staple’s FY2024 earnings at $3.79 EPS.

Separately, StockNews.com raised shares of Granite Real Estate Inc. Staple from a “hold” rating to a “buy” rating in a report on Friday.

Granite Real Estate Inc. Staple Trading Up 0.1 %

Shares of NYSE:GRP.U opened at $46.71 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.59 and a quick ratio of 0.27. The company’s 50-day moving average price is $51.91 and its two-hundred day moving average price is $56.21. The stock has a market capitalization of $2.98 billion, a PE ratio of -212.31 and a beta of 1.09. Granite Real Estate Inc. Staple has a one year low of $45.35 and a one year high of $66.54.

Granite Real Estate Inc. Staple Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.196 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 5.04%. Granite Real Estate Inc. Staple’s payout ratio is presently -1,072.68%.

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.