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

Granite Real Estate Inc. Staple (NYSE:GRP.U) will post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Granite Real Estate Inc. Staple to post earnings of $0.98 per share for the quarter.

Granite Real Estate Inc. Staple Price Performance

Shares of NYSE:GRP.U opened at $53.43 on Tuesday. The business has a 50 day moving average price of $57.49 and a 200 day moving average price of $53.47. Granite Real Estate Inc. Staple has a twelve month low of $45.60 and a twelve month high of $65.63. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.52. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 20.01 and a beta of 1.21.

Granite Real Estate Inc. Staple Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.1994 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.39 annualized dividend and a yield of 4.48%. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is 91.39%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Granite Real Estate Inc. Staple from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

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.