YOLFTbeta
Granite Real Estate Investment Trust

Granite Real Estate Investment Trust

GRTUF · NYSE · Real Estate / REIT - Industrial

60.23USD+0.00 (0.00%)

Price History

Full chart

Market Stats

Previous Close60.23
Open60.23
Day Range60.23 – 60.23
52-Week Range48.71 – 71.56
Volume0
Market Cap3.63B
P/E (TTM)13.58
Forward P/E12.29
EPS4.31
Dividend Yield4.33%
50-Day Avg65.56
200-Day Avg64.71

About

Granite Real Estate Investment Trust is a Canadian-based real estate investment trust engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. As at August 5, 2026, Granite owns 145 investment properties in six countries having approximately 61.5 million square feet of gross leasable area. Granite has a highly-integrated team of real estate professionals with extensive experience in operations, leasing, development, investment and asset management located at its head office in Toronto, Canada and regional offices in Dallas, United States; Vienna, Austria; and Amsterdam, Netherlands. Granite Real Estate Investment Trust was established in 2003 and was incorporated in Canada.

Company Details

  • SectorReal Estate
  • IndustryREIT - Industrial
  • CEOMr. Kevan S. Gorrie ICD.D, P. Eng
  • Employees70
  • HeadquartersToronto-Dominion Centre, Toronto, ON, Canada, M5K 1H1, USA
  • Websitehttps://www.granitereit.com

Leadership

  • Mr. Kevan S. Gorrie ICD.D, P. EngPresident, CEO & Trustee · b. 1969
  • Ms. Teresa Neto CAChief Financial Officer · b. 1966
  • Mr. Michael A. RamparasExecutive VP of Global Real Estate & Head of Investments
  • Mr. Lawrence ClarfieldExecutive VP, General Counsel & Corporate Secretary
  • Mr. Lorne KumerExecutive VP & Head of Global Real Estate
  • Mr. Witsard SchaperSenior VP & Head of Europe
  • Ms. Kristy BoysSenior Vice President of Finance
  • Mr. Jon SorgSenior VP & Head of U.S.
  • Mr. Keith StephenVice President of Sustainability & Environment
  • Ms. Alison ClementsSenior Vice President of Real Estate

Financials

Income Statement

Currency: CAD2021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue393.49M455.58M521.25M569.14M618.70M
Growth (%)-+15.78%+14.41%+9.19%+8.71%
Cost of Revenue60.81M75.22M86.01M97.15M109.24M
Gross Profit332.68M380.36M435.24M471.99M509.46M
Gross Margin84.55%83.49%83.50%82.93%82.34%
Operating Expense39.72M31.06M42.56M36.73M47.04M
Operating Income292.96M349.30M392.67M435.26M462.42M
Operating Margin74.45%76.67%75.33%76.48%74.74%
Net Income1.31B155.77M136.66M360.61M342.34M
Net Income Margin332.90%34.19%26.22%63.36%55.33%
Interest Expense39.39M45.18M72.86M86.44M90.68M
Interest Expense % of Total Revenue10.01%9.92%13.98%15.19%14.66%

Balance Sheet

Currency: CAD2021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets8.57B9.28B9.07B9.62B9.73B
Total Liabilities3.25B3.80B3.78B3.88B4.22B
Total Equity5.32B5.48B5.28B5.74B5.52B
Cash402.51M135.08M116.13M126.17M139.59M
Net Debt2.02B2.90B2.95B2.95B3.14B

Cash Flow

Currency: CAD2021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow262.26M277.50M313.18M338.61M388.08M
Financing Cash Flow333.48M214.56M-203.11M-267.50M-166.69M
Capital Expenditure589.00K807.00K285.00K125.00K117.00K
Free Cash Flow261.68M276.69M312.90M338.48M387.97M
Dividends Paid191.08M202.28M203.91M207.85M208.14M
FCF to OCF99.78%99.71%99.91%99.96%99.97%
Dividend Paid to FCF73.02%73.11%65.17%61.41%53.65%

Key Statistics & Ratios

Market Cap3.63B
Enterprise Value5.73B
Trailing P/E13.58
Forward P/E12.29
Price / Sales5.64
Price / Book0.88
EPS4.31
Book Value67.74
Revenue (TTM)644.43M
Gross Profit (TTM)528.86M
EBITDA471.60M
Profit Margin56.60%
Operating Margin70.61%
Return on Equity6.53%
Return on Assets3.05%
Shares Outstanding62.08M
Shares Float61.81M
Dividend Yield4.33%
Dividend Rate2.54
Payout Ratio57.68%

Dividends

20269×
0.21Oct 30, 20260.21Aug 31, 20260.21Jul 31, 20260.21Jun 30, 20260.21May 29, 20260.21Apr 30, 20260.21Mar 31, 20260.21Feb 27, 20260.21Jan 30, 2026
202512×
0.21Dec 31, 20250.20Nov 28, 20250.20Oct 31, 20250.20Sep 29, 20250.20Aug 29, 20250.20Jul 31, 20250.20Jun 30, 20250.20May 30, 20250.20Apr 30, 20250.20Mar 31, 20250.20Feb 28, 20250.20Jan 31, 2025
20243×
0.20Dec 31, 20240.20Nov 27, 20240.20Oct 31, 2024