Granite Real Estate Inc. Staple (NYSE:GRP.U) to Post FY2023 Earnings of $3.63 Per Share, Desjardins Forecasts

Granite Real Estate Inc. Staple (NYSE:GRP.U – Get Rating) – Investment analysts at Desjardins cut their FY2023 EPS estimates for Granite Real Estate Inc. Staple in a report issued on Monday, March 13th. Desjardins analyst K. Stanley now forecasts that the company will post earnings per share of $3.63 for the year, down from their prior estimate of $3.92. The consensus estimate for Granite Real Estate Inc. Staple’s current full-year earnings is $3.67 per share.

Separately, StockNews.com assumed coverage on shares of Granite Real Estate Inc. Staple in a research report on Thursday. They set a “hold” rating on the stock.

Granite Real Estate Inc. Staple Stock Performance

Shares of NYSE:GRP.U opened at $61.25 on Thursday. The firm has a market cap of $3.90 billion, a PE ratio of 31.09 and a beta of 1.05. The firm’s 50 day simple moving average is $59.75 and its 200-day simple moving average is $55.77. Granite Real Estate Inc. Staple has a one year low of $45.83 and a one year high of $80.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.58 and a current ratio of 0.58.

Granite Real Estate Inc. Staple Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 27th. This is a positive change from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.92%. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 115.74%.

About Granite Real Estate Inc. Staple

(Get Rating)

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.