Granite Real Estate Inc. Staple (GRP.U) Set to Announce Earnings on Wednesday

Granite Real Estate Inc. Staple (NYSE:GRP.U – Get Rating) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, November 9th. Analysts expect Granite Real Estate Inc. Staple to post earnings of $0.84 per share for the quarter.

Granite Real Estate Inc. Staple Stock Down 2.1%

Shares of GRP.U opened at $50.99 on Wednesday. The company has a market capitalization of $3.36 billion, a P/E ratio of 3.72 and a beta of 0.98. The stock has a 50-day moving average of $52.49 and a two-hundred day moving average of $57.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.64 and a current ratio of 1.64.

Granite Real Estate Inc. Staple Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be given a $0.1881 dividend. The ex-dividend date is Friday, October 28th. This represents a $2.26 dividend on an annualized basis and a yield of 4.43%. Granite Real Estate Inc. Staple’s dividend payout ratio is currently 16.98%.

Analyst Upgrades and Downgrades

GRP.U has been the subject of several research analyst reports. StockNews.com initiated coverage on Granite Real Estate Inc. Staple in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Desjardins restated a “buy” rating on shares of Granite Real Estate Inc. Staple in a research note on Friday, July 22nd.

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.

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