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Investor Insights

This summary was created by AI, based on 14 opinions in the last 12 months.

Granite REIT (GRT.UN-T) is the largest industrial REIT listed in Canada, with a diverse portfolio and a significant lease to Magna, mostly in Europe and Austria. The company has well-run properties but has been stuck in a range due to uncertainty in the economy, slowing down approvals for large-space leases. The experts expect higher occupancy in the second half of 2024. Despite concerns about rent growth and supply from new construction, the stock is seen as a good investment opportunity, trading at a discount to NAV with a solid dividend and strong fundamentals in the industrial real estate sector.

Consensus
Buy
Valuation
Undervalued
Similar
DIR.UN, CAR.UN
BUY
Granite REIT

Doesn't like REITs now for poor returns, but does like Granite for its strong balance sheet, management, conservative payout ratio and are in the right sector, industrial which will pick up. Good track record of raising their dividend and a likely take-out candidate. If interest rates decline, the REITs will benefit. But it's not a business model for growth.

property mngmnt / investment
BUY
Granite REIT

Largest industrial REIT listed in Canada. Diversified. 30% leased to Magna, mostly in Europe and Austria. Well run, good properties. Stuck in a range, mainly because uncertain economy has slowed down approvals on large-space leases. Expects higher occupancy in second half of 2024. 10-15% discount to NAV, yield of over 4%.

property mngmnt / investment
BUY
Granite REIT

Believes opportunity for catch up trade. Good time to buy at current price. Would recommend investing. Pause in interest rate hikes, good for business. 

property mngmnt / investment
WEAK BUY
Granite REIT

Successfully diversifying away from reliance on MGA. Solid management, executes well throughout the cycle. Concerns about more supply from new construction. Rent growth muted. Great option, but he owns DIR.UN instead.

property mngmnt / investment
TOP PICK
Granite REIT

Is selling at 75% of the NAV of the real estate. Also debt is 30% of its NAV, half of its peers. They can buy new buildings. They're in industrial real estate which remains in high demand.

(Analysts’ price target is $88.32)
property mngmnt / investment
BUY
Granite REIT
GRT.UN vs. DIR.UN

Prefers this one. Better investment than DIR.UN. Steadier assets. Backed more by management. Only weakness is that US properties are suffering a bit. 

DIR.UN has good numbers, but issued equity in September, instead of selling assets, to get leverage down. Motivated by externally managed contract remuneration based on assets under management. Stock fell. Can't support management on any level. Supply's coming on, so the story's getting tired.

property mngmnt / investment
BUY
Granite REIT
GRT.UN vs. CAR.UN

Both are quality. Likes both sectors. Likes both, but if he had to choose, he'd pick GRT.UN.

In Quebec and BC, but CAR.UN is mainly a play on Toronto, a fantastic multi-family market, but there is rent control. Great supply/demand fundamentals, but hard to get the cashflow. Outperformed peers, so pullback is understandable.

Industrial warehouse sector continues to do quite well. GRT.UN focuses on Canada, US, and Europe, trading at a nice discount to NAV. Underperformed, not warranted. Concern about oversupply in US, but he thinks they're in a good position. 

property mngmnt / investment
BUY
Granite REIT

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%.

property mngmnt / investment
PAST TOP PICK
Granite REIT
(A Top Pick Sep 12/22, Up 2%)

Will continue to hold.
Solid dividend that is dependable.
Expecting a $85 share price in 2024.
Excellent business.

property mngmnt / investment
HOLD
Granite REIT

Large selloff in share price given rise in interest rates.
Industrial real estate not as strong as Covid-19.
Not many barriers to entry within industrial real estate. 
eCommerce growth will help demand for storage. 
Current share price a "hold". 

property mngmnt / investment
TOP PICK
Granite REIT

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

(Analysts’ price target is $97.91)
property mngmnt / investment
BUY
Granite REIT

REITs have been punished because of interest rates staying high. Opportunity to buy. Nothing wrong with the fundamentals. Likes it. Still huge demand for industrial properties with growth in e-commerce. Pricing power plus inflation-protected contracts. Yield is 4.3%.

property mngmnt / investment
premium

This is a Panic-proof Portfolio opinion which is available only for Premium members

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK
Granite REIT
(A Top Pick Nov 03/22, Up 10.3%)Stockchase Research Editor: Michael O'Reilly

Our 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.     

property mngmnt / investment
TOP PICK
Granite REIT

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. 

property mngmnt / investment
TOP PICK
Granite REIT

It 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

(Analysts’ price target is $96.36)
property mngmnt / investment
Showing 1 to 15 of 132 entries

Granite REIT(GRT.UN-T) Rating

Ranking : 4 out of 5

Bullish - Buy Signals / Votes : 11

Neutral - Hold Signals / Votes : 1

Bearish - Sell Signals / Votes : 0

Total Signals / Votes : 12

Stockchase rating for Granite REIT is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Granite REIT(GRT.UN-T) Frequently Asked Questions

What is Granite REIT stock symbol?

Granite REIT is a Canadian stock, trading under the symbol GRT.UN-T on the Toronto Stock Exchange (GRT.UN-CT). It is usually referred to as TSX:GRT.UN or GRT.UN-T

Is Granite REIT a buy or a sell?

In the last year, 12 stock analysts published opinions about GRT.UN-T. 11 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Granite REIT.

Is Granite REIT a good investment or a top pick?

Granite REIT was recommended as a Top Pick by on . Read the latest stock experts ratings for Granite REIT.

Why is Granite REIT stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Granite REIT worth watching?

12 stock analysts on Stockchase covered Granite REIT In the last year. It is a trending stock that is worth watching.

What is Granite REIT stock price?

On 2024-04-15, Granite REIT (GRT.UN-T) stock closed at a price of $72.99.