In a research note distributed to investors on Thursday, January 5, equity research analysts at National Bank Financial lowered their estimates of earnings per share that Granite Immobilier inc. and Staples will generate in fiscal 2023. Granite Real Estate Inc., a core business, is listed on the New York Stock Exchange under the symbol GRP. UM Kornack, an analyst working for National Bank Financial, revised down his earlier projection of the company’s earnings per share from $3.49 to $3.43. Prior to this estimate, $3.49 was expected. Based on the views of the vast majority of market analysts, Granite Real Estate Inc.’s current earnings forecast has been pegged at $3.40 per share.
On Monday, GRP.U started trading for $52.50. The company has a price-to-earnings ratio of 6.96, a beta value of 1.02, and a market capitalization of $3.34 billion. The stock is currently trading at $55.04 and its past 50-day simple moving average is $56.31, while its past 200-day simple moving average is $56.31. The leverage ratio is 0.53 and the quick, current and current ratios are all 2.63. The debt ratio is an indicator of financial health. The debt ratio is a good indicator of a company’s overall financial health.
In a separate development, StockNews.com began covering Granite Real Estate Inc.’s staple on October 12, a Wednesday. They advised their clients to buy the shares.
Additionally, the company has declared a monthly dividend, which will be paid on the 17th of that month. On Friday, December 30, 2018, shareholders who had complete filings as of the previous business day will be eligible to receive the dividend payment of $0.199. This equates to a dividend payout of $2.39 on an annualized basis and a dividend yield of 4.55% when calculated on annualized terms. Granite Real Estate Inc.’s base dividend was previously paid at a rate of $0.19 per month; therefore, this represents an increase over that amount. December 29, which is a Thursday, is the date that will mark the start of “ex-dividend” status for this dividend. For Granite Real Estate Inc., a payout ratio of 31.70% has been determined.
Granite Real Estate Investment Trust owns and manages a large industrial real estate portfolio on various continents, including North America (including Canada and the United States), Latin America (including Mexico) and Europe. The company not only owns but also manages residential properties that are rented out to tenants. It offers a wide range of services, including site development, assistance with obtaining government permits and rezoning for specific uses, custom construction, property renovation, project management and rental at long term, just a few options.
