Granite REIT (GRT.UN.TO) Buy, Sell or Hold

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Granite REIT (GRT.UN.TO)

96.42

+0.22 (0.23%)

as of Jun 26, 2026, 8:00:00 pm Market Open.

347 watching

Investor Insights

Jun 26, 2026, 12:00 am

This summary was created by AI, based on 7 opinions in the last 12 months.

Granite REIT (GRT.UN-T) is a well-regarded player in the industrial real estate sector, particularly known for its substantial lease with auto-part maker Magna and a diversified portfolio across Tier 1 markets such as the Greater Toronto Area and the rapidly growing Florida-Texas belt. Experts have praised the company's ability to navigate challenges related to tariffs and inflation, with a positive outlook on leasing activity bouncing back after a slowdown. Despite concerns about the industrial warehouse sector being overbuilt during the pandemic, Granite REIT benefits from a clean balance sheet and solid cash flow, primarily from Magna, which is moving towards longer-term contracts. Analysts note that the stock is trading at a discount to its net asset value (NAV) with a healthy dividend yield, positioning it well for continued growth as the market stabilizes. Overall, the consensus sees potential for positive returns as REITs begin to recover into 2027.

Consensus

Positive

Valuation

Fair Value

Similar

PLD

COMMENT

Industrial REITs The market down turn only increases the value of warehouse REITs. Supply chains are going to see dramatic changes post pandemic. Having a 7% yield in a company that can still grow is good. He holds WIR.

PAST TOP PICK

(A Top Pick Jun 17/19, Up 15%) It was 100% MG.A-T assets and now that has come down to a little less than 40%. The rest is distribution and warehousing. They have done exceptionally well. They had a very conservative balance sheet going into this.

COMMENT

Dividend safe? He owned BTB.UN a few years ago as they held light industrial and commercial real estate around Montreal. The issue going back 3-4 years ago was they had issues meeting financial metrics, which he feels was due to them over distributing earnings. He would prefer to hold WPT and GRT.UN.

PAST TOP PICK

(A Top Pick Nov 04/19, Up 10%) He likes this company a lot and thinks highly of management. They did a great job of diversifying away from their biggest client.

TOP PICK

They buy conventional e-commerce centres in Europe and the States. They carry only 25% debt-to-cap, which is low vs. peers. They find value in Europe and get great returns.

COMMENT

Granite vs. BAM Granite has done well and he regrets not buying it. They've done a great job transforming the Magna assets. It's come a long way. He's neutral on it now. BAM is totally different, a huge conglomerate, a premier stock on the TSX. You can't compare the two.

BUY

For an RRSP as a 2-3-year hold, vs. BAM Go with BAM. But he likes Granite--boasts a very strong balance sheet with low debt which protects them in a downturn. Or they can lever up their balance sheet and buy accretive assets.

BUY

He likes them a lot. Their position in industrial assets is where the growth is globally. E-commerce is benefiting them and should continue. It is still early and there is lots of runway as they develop and take advantage of their expertise. They have a 6% unlevered cash flow return -- which is excellent. A core holding.

TOP PICK

He likes the industrial space and management. They are adept at creating value. They have a pristine balance sheet. They can go on the offense and make acquisitions. He sees value in their Magna leases. (Analysts’ price target is $69.93)

TOP PICK

REITs are generally expensive. It trades at 18 times EBITDA. Logistics and warehousing is now 50% of their portfolio and this space is growing. It has a low payout ratio, so there is room for the dividend to grow. A stellar balance sheet gives them lots of options. Yield 4.29% (Analysts’ price target is $69.50)

PAST TOP PICK

(A Top Pick Aug 22/19, Up 4%) Global industrial in North American and Europe. Recently added on weakness. Double digit earnings growth. Price is attractive. Yield is 4.5%.

BUY

A REIT for a TFSA? He likes multi-family residentials and industrials REITs. So, he likes IIP.UN-T and Granite REIT.

TOP PICK

Is a global industrial landlord in North America and Europe. The new CEO is doing well, likes him. CEO is transitioning the assets into a high-quality industrial portfolio, slashing exposure to Magna about 97% from 5 years ago. Has an underlevered balance sheet, only 20% debt, and $1 billion in liquidity. YTD, they have spent that amount in acquisitions. She expects double-digit earnings growth. Pays a 4.4% yield. (Analysts’ price target is $68.11)

TOP PICK

A new management team is working with a great balance sheet. They raised equity to keep the balance sheet in good shape. There should be good capital appreciation and cash flow growth going forward. Yield 4.55% (Analysts’ price target is $67.44)

TOP PICK

It was spun out from Magna a while ago. New management, since last summer, has done an excellent job. He likes international warehousing, tied in with e-commerce, a story he really likes. They're up 54% in five years. He bought it a while ago.

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Granite REIT (GRT.UN.TO)