TSE:GRT.UN
Granite REIT (GRT.UN.TO)
Financials 
Technical Analysis 
Jun 5, 2026, 12:00 amThis summary was created by AI, based on 7 opinions in the last 12 months.
Granite REIT (GRT.UN-T) is navigating a complex landscape characterized by various factors such as tariff noise, geopolitics, inflation, and changing leasing dynamics. Recognized for its high-quality industrial properties, particularly in the Greater Toronto Area and rapidly growing regions within the Florida-Texas belt, the company boasts a solid tenant base with Magna as its largest tenant. Despite concerns over overbuilding during the pandemic, Granite's clean balance sheet and focus on Tier 1 markets position it well for a recovery, especially as the industrial warehouse sector starts to show signs of improvement. Experts express optimism about the REIT's potential to perform well due to a favorable interest rate environment and its ability to offer growth through e-commerce and industrial expansions, while also making it a viable option for dividend income. Overall, analysts expect continued positive performance through 2027, supported by increased leasing activity and solid cash flow.
Will continue to hold.
Solid dividend that is dependable.
Expecting a $85 share price in 2024.
Excellent business.
Robert Lauzon
It is much less exposed to interest rates than other REIT's and its leverage is only 33% of the balance sheet, less than other REIT's. Also it has little exposure to office towers. With more manufacturing there is more need for wholesale warehouse space so it is priced at a premium. It's interesting that the older warehouses have 14 and 18 foot ceilings whereas new ones have 30 and 60 foot ceilings due to robotics and stacking. Older ones are being retired.
Buy 11 Hold 0 Sell 0
David Baskin
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Premium contentOur PAST TOP PICK with GRT.UN has triggered its stop at $77. To remain disciplined, we recommend covering the position at this time. This will result in a net investment gain of 13%, when combined with previous recommendations.
Likes fundamentals of industrial real estate business.
Large customers like Amazon not going away.
Demand for manufacturing very strong with shift back to North America (away from China).
Long term leases with predictable revenues.
Brendan CaldwellIt trades at a 15% discount to NAV which is close to $100. Has a 99% occupancy rate and 80% of its leases in 2023 have been renewed at a 20% increase in rent. It is a high quality REIT with good real estate and industrial exposure. Besides Canada it has global exposure with the U.S. and Europe. E-commerce is coming back because on-shoring is happening now and land is needed for chip plants, EV production facilities, etc. Therefore industrial REIT's should do well. There is risk in office REIT's but Granite has only 1% exposure to office space.
Buy 11 Hold 0 Sell 0
Robert LauzonPremium contentPremium contentThe question was on both Granite REIT and Cap REIT. They are both very different companies and he likes them both. Granite REIT is in the industrial warehouse sector in Canada, the U.S. and Europe, which he's bullish on. It has good management and trades at a good discount to NAV. Cap REIT is in the multi-family sector with great assets, exposure to Ontario and Toronto and good management. There is an overhang re apartment rents which are under government discussion. There are a number of bad owners in the news but this does not apply to REIT's
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Holds a nice, diverse portfolio of industrial real estate, not office buildings or malls. Pays a good yield. Is less levered than other REITs, so it has a lot of dry powder to buy companies and less effected by higher interest rates. Trades far lower than its NAV, maybe 80%.