Granite Real Estate Investment Trust
TSX:GRT.UN
Granite Real Estate Investment Trust
Granite Real Estate Investment Trust is a prominent player in the world of industrial real estate, focusing primarily on logistics and warehouse properties. Emerging from the spin-off of Magna International's real estate assets, Granite has established itself as a key figure in managing and developing a diverse portfolio across North America and Europe. The trust thrives on its strategic approach of targeting high-quality tenants, many of whom are from the e-commerce, distribution, and automotive industries. By securing long-term leases with these tenants, Granite stabilizes its revenue stream, capitalizing on the ongoing demand for logistics infrastructure fueled by the growth of online retail and global supply chain expansion.
The company generates income through rental payments, ensuring profitability by maintaining high occupancy rates and managing operational efficiencies across its properties. In addition to rental income, Granite pursues value-enhancing development projects to expand its portfolio and heighten its appeal to investors. By acquiring strategically located properties and investing in state-of-the-art facilities, Granite positions itself to cater to the evolving needs of logistics operators. This forward-thinking approach, coupled with prudent financial management, enables Granite to deliver consistent returns to its unitholders, while simultaneously fortifying its standing in the competitive landscape of industrial real estate investment trusts.
Results Inline: Granite REIT delivered Q2 2025 results in line with its annual forecast, with strong leasing activity offsetting FX headwinds.
FFO & AFFO Guidance Raised: Full-year guidance for FFO per unit increased to $5.75–$5.90 (up 6–9% YoY); AFFO per unit guidance also raised to $4.90–$5.05 (up 1–4% YoY).
Leasing Momentum: Over 2.4 million square feet of new and renewal leases signed, with renewal rates up over 40% and some deals achieving even higher increases.
Occupancy Outlook Improved: Year-end committed occupancy expected between 96.5% and 97%, roughly 100 bps above previous expectations.
Active Capital Rotation: NCIB buybacks and a Florida acquisition funded with credit line; $310.5 million of assets held for sale with strong buyer interest.
Balance Sheet & Liquidity: Liquidity stands at about $1 billion, net leverage rose to 36% due to assets held for sale and NCIB activity; leverage expected to normalize.
Sustainability Progress: Achieved key ESG milestones, including 50 MW of solar capacity and top ESG ranking among North American peers.
You don't have any saved screeners yet
