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Granite Real Estate (TSE:GRT.UN)
TSX:GRT.UN
RESEARCH TOOLSreports
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GRT.UN Stock Chart & Stats
Day’s RangeC$0 - C$0
52-Week RangeC$63.07 - C$82.88
Previous CloseC$75.98
Volume127.60K
Average Volume (3M)80.54K
Market Cap
C$4.77B
Enterprise ValueC$7.80B
Total Cash (Recent Filing)C$101.26M
Total Debt (Recent Filing)C$3.13B
Price to Earnings (P/E)20.9
Beta1.08
Next Earnings
Nov 06, 2024EPS EstimateN/A
Last Dividend Ex-Date
Oct 31, 2024Dividend Yield4.26%
Share Statistics
EPS (TTM)3.63
Shares Outstanding63,004,314
10 Day Avg. Volume92,293
30 Day Avg. Volume80,541
Standard Deviation0.07
R-Squared0.59
Alpha0.00124
Financial Highlights & Ratios
Price to Book (P/B)0.88
Price to Sales (P/S)8.98
Price to Cash Flow (P/CF)15.80
P/FCF Ratio15.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$88.75Price Target Upside19.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
Bulls Say, Bears Say
Bulls Say
Financial PerformanceGranite reported solid growth in funds from operations (FFO) per unit of $1.32, an increase of 9% from $1.21 in the prior year, and in line with expectations.
Strong Balance SheetStrong balance sheet with D/EBITDA at 7.5x and liquidity of $1.1B.
ValuationGranite currently trades at an implied cap rate of 6.4% or a 20.0% discount to the NAV estimate.
Bears Say
Earnings GuidanceManagement lowered its AFFO per unit guidance by $0.05 to a range of $4.60 to $4.75 per unit due to greater expected capital expenditures, leasing commissions, and tenant allowances.
Growth GuidanceInternal growth guidance for 2024 was adjusted to a range of 6.0-6.5% from 7-8% previously due to an unexpected vacancy from a tenant insolvency in Ohio.
Market ConditionsIndustrial REIT unit prices, Granite included, have been soft due to both the less robust fundamentals and the impact of higher long-term bond yields on income-oriented investments.
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Options Prices
Currently, No data available
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Ownership Overview
0.36% Insiders
3.17% Mutual Funds
― Other Institutional Investors
85.36% Public Companies and
Individual Investors
GRT.UN FAQ
What was Granite Real Estate’s price range in the past 12 months?
Granite Real Estate lowest stock price was C$63.06 and its highest was C$82.88 in the past 12 months.
What is Granite Real Estate’s market cap?
Currently, no data Available
When is Granite Real Estate’s upcoming earnings report date?
Granite Real Estate’s upcoming earnings report date is Nov 06, 2024 which is in 4 days.
How were Granite Real Estate’s earnings last quarter?
Granite Real Estate released its earnings results on Aug 07, 2024. The company reported C$1.206 earnings per share for the quarter, beating the consensus estimate of N/A by C$1.206.
Is Granite Real Estate overvalued?
According to Wall Street analysts Granite Real Estate’s price is currently Undervalued.
Does Granite Real Estate pay dividends?
Granite Real Estate pays a Monthly dividend of C$0.28 which represents an annual dividend yield of 4.26%. See more information on Granite Real Estate dividends here
What is Granite Real Estate’s EPS estimate?
Granite Real Estate’s EPS estimate for its next earnings report is not yet available.
How many shares outstanding does Granite Real Estate have?
Granite Real Estate has 62,740,097 shares outstanding.
What happened to Granite Real Estate’s price movement after its last earnings report?
Granite Real Estate reported an EPS of C$1.206 in its last earnings report, beating expectations of N/A. Following the earnings report the stock price went down -2.918%.
Which hedge fund is a major shareholder of Granite Real Estate?
Currently, no hedge funds are holding shares in TSE:GRT.UN
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Granite Real Estate Stock Smart Score
Unlock Smart Score
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Analyst Consensus
Strong Buy
Average Price Target:
C$88.75 (19.06% Upside)
C$88.75 (19.06% Upside)
Blogger Sentiment
Neutral
TSE:GRT.UN Sentiment 100%
Sector Average 69%
Sector Average 69%
Crowd Wisdom
Negative
Last 7 Days ▼ 1.7%
Last 30 Days ▲ 0.6%
Last 30 Days ▲ 0.6%
Technicals
SMA
Positive
20 days / 200 days
Momentum
25.86%
12-Months-Change
Fundamentals
Return on Equity
4.26%
Trailing 12-Months
Asset Growth
1.35%
Trailing 12-Months
Company Description
Granite Real Estate
Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe. Granite's portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company's assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S. locations. Granite derives nearly all of its revenue in the form of rental income from its properties. The company's largest tenant is Magna International, an automotive parts and systems manufacturer, which accounts for the majority of Granite's lease income.
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GRT.UN Stock 12 Month Forecast
Average Price Target
C$88.75
▲(19.06% Upside)
Technical Analysis
H&R Real Estate ate Staple
―
Canadian Apartment
―
Dream Industrl REIT
―
SmartCentres Real Estate Investment Trust
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Best Analysts Covering GRT.UN
1 Year
1 Year Success Rate
7/7 ratings generated profit
1 Year Average Return
+10.71%
reiterated a buy rating 6 months ago
Copying Himanshu Gupta CFA's trades and holding each position for 1 Year would result in 100.00% of your transactions generating a profit, with an average return of +10.71% per trade.
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