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Granite Real Estate Investment Trust

Granite Real Estate Investment Trust

GRT-UN · TO · Real Estate / REIT - Industrial

87.49CAD+1.70 (+1.98%)

Price History

Full chart

Market Stats

Previous Close85.79
Open86.18
Day Range86.13 – 88.85
52-Week Range72.28 – 100.50
Volume101.47K
Market Cap5.19B
P/E (TTM)13.84
Forward P/E12.30
EPS6.04
Dividend Yield4.25%
Beta1.18
50-Day Avg88.98
200-Day Avg89.71

About

Granite Real Estate Investment Trust is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 145 investment properties representing approximately 61.5 million square feet of leasable area. 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, Canada
  • 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: CAD2000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue662.37M877.52M986.20M1.06B1.03B909.92M1.01B786.92M942.55M384.63M358.42M186.79M181.12M203.25M207.41M216.30M223.40M222.64M247.48M273.68M340.20M393.49M455.58M521.25M569.14M618.70M
Growth (%)-+32.48%+12.39%+7.03%-2.75%-11.36%+10.99%-22.08%+19.78%-59.19%-6.82%-47.88%-3.04%+12.22%+2.05%+4.29%+3.28%-0.34%+11.16%+10.58%+24.31%+15.66%+15.78%+14.41%+9.19%+8.71%
Cost of Revenue---793.45M810.16M699.39M771.43M567.86M676.51M143.90M191.63M3.15M5.69M5.57M6.88M7.06M7.64M9.30M30.94M35.36M47.16M60.81M75.22M86.01M97.15M111.63M
Gross Profit662.37M877.52M986.20M262.05M216.32M210.53M238.51M219.07M266.04M240.74M166.79M183.65M175.42M197.67M200.53M209.24M215.76M213.34M216.54M238.31M293.04M332.68M380.36M435.24M471.99M507.07M
Gross Margin100.00%100.00%100.00%24.83%21.07%23.14%23.62%27.84%28.23%62.59%46.53%98.32%96.86%97.26%96.68%96.74%96.58%95.82%87.50%87.08%86.14%84.55%83.49%83.50%82.93%81.96%
Operating Expense643.92M825.41M970.08M186.67M267.98M242.05M350.50M219.70M420.46M234.26M207.10M128.08M89.62M48.37M52.65M47.78M28.67M32.49M0033.21M40.48M35.22M40.45M36.73M43.55M
Operating Income18.45M52.10M16.12M75.37M-51.66M-31.53M-112.00M-636.20K-154.43M6.47M-40.31M55.57M85.80M149.31M147.88M161.45M187.10M180.85M216.54M238.31M259.82M292.19M345.14M394.79M435.26M463.52M
Operating Margin2.79%5.94%1.63%7.14%-5.03%-3.47%-11.09%-0.08%-16.38%1.68%-11.25%29.75%47.37%73.46%71.30%74.64%83.75%81.23%87.50%87.08%76.37%74.26%75.76%75.74%76.48%74.92%
EBITDA63.12M110.59M69.69M-77.69M27.99M57.79M-14.44M77.36M70.03M176.75M60.76M112.71M144.82M157.29M172.47M184.42M187.80M184.95M178.17M206.04M260.98M293.51M346.73M203.14M480.48M459.39M
EBITDA Margin9.53%12.60%7.07%-7.36%2.73%6.35%-1.43%9.83%7.43%45.95%16.95%60.34%79.96%77.39%83.16%85.26%84.07%83.07%71.99%75.29%76.71%74.59%76.11%38.97%84.42%74.25%
Net Income25.66M52.87M16.61M-41.94M-10.22M7.62M69.78M39.13M-3.91M-44.28M-52.02M159.07M71.34M145.03M70.21M193.33M279.32M357.70M465.16M382.08M429.80M1.31B155.77M136.66M360.61M342.34M
Net Income Margin3.87%6.02%1.68%-3.97%-1.00%0.84%6.91%4.97%-0.42%-11.51%-14.51%85.16%39.39%71.36%33.85%89.38%125.03%160.67%187.95%139.61%126.34%332.90%34.19%26.22%63.36%55.33%
R&D----------------1.471.532.11.561.473.940.20.25--
R&D as % of Total Revenue----------------0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%--
Interest Expense000000038.61M55.62M19.88M16.45M16.99M16.39M20.32M23.94M18.84M19.71M19.79M18.54M27.77M33.61M39.39M45.18M72.86M86.44M96.89M
Interest Expense % of Total Revenue0.00%0.00%0.00%0.00%0.00%0.00%0.00%4.91%5.90%5.17%4.59%9.10%9.05%10.00%11.54%8.71%8.82%8.89%7.49%10.15%9.88%10.01%9.92%13.98%15.19%15.66%

Balance Sheet

Currency: CAD2000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets2.34B2.64B3.65B3.41B3.65B3.33B3.29B2.87B3.14B2.01B1.94B1.25B1.22B2.47B2.45B2.73B2.91B3.21B4.19B4.80B6.75B8.57B9.28B9.07B9.62B9.73B
Total Liabilities385.58M545.68M922.65M930.14M1.33B1.26B1.12B997.57M1.13B344.09M452.02M337.49M341.20M792.12M811.51M873.05M961.91M1.07B1.69B1.66B2.83B3.25B3.80B3.78B3.88B4.22B
Total Equity1.78B1.86B2.25B2.12B2.02B1.84B1.96B1.72B1.97B1.66B1.49B912.82M877.00M1.67B1.63B1.85B1.95B2.14B2.50B3.15B3.92B5.32B5.48B5.28B5.73B5.51B
Cash61.47M70.33M149.39M168.44M348.25M182.88M291.70M144.37M177.41M141.53M85.42M57.13M51.07M95.52M116.23M119.16M246.22M69.02M658.25M298.68M831.28M402.51M135.08M116.13M126.17M62.54M
Total Debt127.41M147.44M297.70M522.11M870.19M810.20M740.09M646.09M727.74M265.13M279.68M264.27M263.59M557.11M575.77M564.02M646.77M679.86M1.20B1.22B2.21B2.46B3.07B3.10B3.11B3.34B
Net Debt65.94M77.12M148.31M353.67M521.95M627.32M448.40M501.71M550.33M123.60M194.26M207.14M212.52M461.59M459.54M444.87M400.55M610.84M540.17M921.36M1.38B2.06B2.93B2.98B2.99B3.28B

Cash Flow

Currency: CAD2001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow123.73M43.98M113.23M82.12M82.80M61.89M75.73M104.14M109.93M88.82M116.35M116.65M127.89M92.86M159.84M159.99M158.68M157.89M183.43M244.32M262.26M277.50M313.18M338.61M387.67M
Investing Cash Flow-87.22M-631.97M-281.94M-244.00M-218.39M141.13M-98.18M-44.11M-101.26M-10.90M-101.21M-25.80M-253.59M20.13M-20.79M11.78M-237.85M95.86M-876.09M-1.07B-1.03B-766.56M-128.13M-65.46M-203.58M
Financing Cash Flow-34.81M670.56M200.97M348.86M-10.39M-99.18M-81.04M-38.88M-34.79M-126.65M-45.81M-95.97M162.13M-90.71M-143.96M-39.96M-105.24M324.18M343.52M1.36B333.48M214.56M-203.11M-267.50M-166.28M
Capital Expenditure138.56M420.73M279.71M270.83M253.86M147.44M107.17M82.28M23.07M15.29M51.40M1.84M29.53M44.16M26.73M19.51M83.69M33.29M30.47M65.29M589.00K807.00K285.00K125.00K117.00K
Free Cash Flow-14.83M-376.75M-166.48M-188.70M-171.06M-85.54M-31.44M21.86M86.86M73.52M64.95M114.81M98.37M48.70M133.11M140.48M74.98M124.60M152.96M179.03M261.68M276.69M312.90M338.48M387.55M
Dividends Paid---20.84M30.27M33.78M28.55M34.11M29.34M23.36M38.33M93.82M90.33M103.20M108.33M113.09M122.64M125.13M150.61M163.06M191.08M202.28M203.91M207.85M208.14M
FCF to OCF-11.98%-856.58%-147.03%-229.78%-206.60%-138.22%-41.52%20.99%79.02%82.78%55.82%98.42%76.91%52.45%83.27%87.81%47.26%78.92%83.39%73.28%99.78%99.71%99.91%99.96%99.97%
Dividend Paid to FCF----11.05%-17.70%-39.49%-90.82%156.00%33.78%31.77%59.02%81.72%91.83%211.90%81.38%80.50%163.55%100.43%98.46%91.08%73.02%73.11%65.17%61.41%53.71%

Earnings

Report DateAug 11, 2004Nov 10, 2004May 4, 2005Aug 5, 2005Nov 9, 2005May 3, 2006Aug 10, 2006Nov 9, 2006Mar 7, 2007May 11, 2007Aug 10, 2007Nov 9, 2007Nov 10, 2011Mar 9, 2012May 9, 2012Aug 8, 2012Nov 7, 2012Mar 5, 2013Aug 7, 2013Nov 6, 2013May 7, 2014Aug 6, 2014Nov 5, 2014May 6, 2015Aug 4, 2016Nov 2, 2016Nov 4, 2026
EPS Estimate0.270.450.400.410.410.460.510.530.530.540.550.460.280.320.290.380.370.350.711.080.190.950.690.740.860.87-
EPS Actual0.08-0.440.340.09-0.220.590.32-0.120.680.570.17-0.060.340.070.400.400.400.320.710.210.820.730.180.610.850.90-
Surprise-70.37%-197.78%-15.00%-78.05%-153.66%28.26%-37.25%-122.64%28.30%5.56%-69.09%-113.04%21.43%-78.13%37.93%5.26%8.11%-8.57%0.00%-80.56%331.58%-23.16%-73.91%-17.57%-1.16%3.45%-
Timing-------Pre-market--Pre-market-Pre-market-After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap5.19B
Enterprise Value8.07B
Trailing P/E13.84
Forward P/E12.30
Price / Sales8.05
Price / Book0.88
EPS6.04
Book Value94.13
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
Beta1.18
Dividend Yield4.25%
Dividend Rate3.55
Payout Ratio57.68%

Dividends

202610×
0.30Oct 30, 20260.30Sep 29, 20260.30Aug 31, 20260.30Jul 31, 20260.30Jun 30, 20260.30May 29, 20260.30Apr 30, 20260.30Mar 31, 20260.30Feb 27, 20260.30Jan 30, 2026
202512×
0.30Dec 31, 20250.28Nov 28, 20250.28Oct 31, 20250.28Sep 29, 20250.28Aug 29, 20250.28Jul 31, 20250.28Jun 30, 20250.28May 30, 20250.28Apr 30, 20250.28Mar 31, 20250.28Feb 28, 20250.28Jan 31, 2025
20242×
0.28Dec 31, 20240.28Nov 27, 2024