Granite Real Estate (TSE:GRT.UN) has released an update.
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Granite Real Estate Investment Trust has announced its plan to buy back up to 6.27 million of its own Stapled Units, which represents roughly 10% of its public float, over the next year. This repurchase initiative, approved by the Toronto Stock Exchange, is part of a strategy to invest in undervalued units and will be subject to daily trading volume limits. The company views this move as a beneficial use of funds, aligning with its belief in the intrinsic value of its shares.
For further insights into TSE:GRT.UN stock, check out TipRanks’ Stock Analysis page.
