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Last C$38.55 CAD
Change Today -0.15 / -0.39%
Volume 98.2K
GRT-U On Other Exchanges
Symbol
Exchange
New York
Toronto
As of 4:00 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

granite real estate investme (GRT-U) Snapshot

Open
C$38.53
Previous Close
C$38.70
Day High
C$38.84
Day Low
C$38.30
52 Week High
01/22/15 - C$45.93
52 Week Low
10/14/14 - C$37.00
Market Cap
1.8B
Average Volume 10 Days
129.8K
EPS TTM
C$1.96
Shares Outstanding
47.0M
EX-Date
08/27/15
P/E TM
19.7x
Dividend
C$2.30
Dividend Yield
5.91%
Current Stock Chart for GRANITE REAL ESTATE INVESTME (GRT-U)

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granite real estate investme (GRT-U) Details

Granite Real Estate Investment Trust owns and manages industrial, warehouse, and logistics properties in North America and Europe. As of December 31, 2014, its portfolio included 103 income-producing properties with approximately 30 million square feet of area. The company’s properties comprise logistics/distribution warehouse facilities, multi-purpose, and special purpose facilities in Canada, the United States, Austria, Germany, the Netherlands, the Czech Republic, the United Kingdom, and Spain. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Granite Real Estate Investment Trust was founded in 1998 and is headquartered in Toronto, Canada.

60 Employees
Last Reported Date: 03/4/15
Founded in 1998

granite real estate investme (GRT-U) Top Compensated Officers

Chief Executive Officer and Trustee
Total Annual Compensation: C$600.0K
Chief Financial Officer
Total Annual Compensation: C$430.5K
Executive Vice-President of Real Estate Inves...
Total Annual Compensation: C$400.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: C$394.6K
Executive Vice President of Europe
Total Annual Compensation: C$391.7K
Compensation as of Fiscal Year 2014.

granite real estate investme (GRT-U) Key Developments

Granite Real Estate Investment Trust Declares Monthly Distribution Payable on September 15, 2015

Granite Real Estate Investment Trust announced that its board of trustees has declared monthly distribution on Granite's stapled units of CAD 0.192 per stapled unit. The distribution will be paid by Granite on September 15, 2015 to stapled unitholders of record at the close of trading on August 31, 2015. The stapled units will begin trading on an ex-dividend basis at the opening of trading on August 27, 2015 on the Toronto Stock Exchange and the New York Stock Exchange.

Granite Real Estate Investment Seeking Acquisition

Granite Real Estate Investment Trust (TSX:GRT.UN) announced that if it finds something attractive, it will look at it for acquisition.

Granite Real Estate Investment Trust and Granite REIT Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Granite Real Estate Investment Trust and Granite REIT Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the three month period ended June 30, 2015, rental revenue from continuing operations increased by CAD 1.3 million to CAD 53.5 million from CAD 52.2 million in the second quarter of 2014. The increase in rental revenue was primarily due to the acquisition of two properties in the United States during the fourth quarter of 2014, contractual rent adjustments and close-out fees received with respect to expired leases for properties in the United States and Austria, partially offset by vacancies and disposals of income-producing properties and the effect of unfavorable foreign exchange rates. Granite's net income from continuing operations in the second quarter of 2015 was CAD 48.2 million compared to CAD 26.4 million for the second quarter of 2014. Net income from continuing operations increased primarily due to net fair value gains on investment properties of CAD 21.5 million compared to net fair value losses of CAD 5.6 million in the prior year period and a CAD 2.4 million decrease in net interest expense, partially offset by a CAD 7.2 million increase in deferred income tax expense. FFO for the second quarter of 2015 was CAD 40.3 million and derived solely from continuing operations. FFO for the second quarter of 2014 was CAD 39.9 million and comprised CAD 37.1 million from continuing operations and CAD 2.8 million from discontinued operations. The CAD 3.2 million increase in FFO attributed to continuing operations was primarily due to the CAD 1.3 million increase in rental revenue, a CAD 0.5 million decrease in property operating costs, a CAD 0.4 million increase in foreign exchange gains and a CAD 2.4 million reduction in net interest expense, partially offset by a CAD 0.8 million increase in general and administrative expenses and a reduction of the current income tax recovery of CAD 0.6 million. For the six month period ended June 30, 2015, rental revenue increased by CAD 1.4 million to CAD 106.5 million in the six month period ended June 30, 2015 from CAD 105.1 million in the prior year period. The increase in rental revenue was primarily due to the reasons noted above. For the six month period ended June 30, 2014, there was CAD 7.1 million in revenue from discontinued operations. Granite's net income from continuing operations in the six month period ended June 30, 2015 was CAD 103.1 million compared to CAD 38.6 million reported for the six month period ended June 30, 2014. Net income from continuing operations increased primarily due to (i) net fair value gains on investment properties of CAD 46.8 million compared to net fair value losses of CAD 29.1 million in the prior year period and lower interest expense of CAD 4.8 million, partially offset by a CAD 17.6 million increase in deferred income tax expense. FFO for the six month period ended June 30, 2015 was CAD 79.1 million and derived solely from continuing operations. FFO for the six month period ended June 30, 2014 was CAD 78.9 million and comprises CAD 73.0 million from continuing operations and CAD 5.9 million from discontinued operations. The increase in FFO attributed to continuing operations of CAD 6.1 million was primarily due to the CAD 1.4 million increase in rental revenue, a CAD 0.6 million decrease in property operating costs and a CAD 4.8 million reduction in net interest expense, partially offset by a CAD 0.5 million increase in current income tax expense.

 

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Price/Earnings 13.4x
Price/Sales 8.2x
Price/Book 1.0x
Price/Cash Flow 13.3x
TEV/Sales 4.9x
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