TSE:GRT.UN
0.00
0.00
(0.00%)
Granite Real Estate Investment Trust is a global real estate operating company composed principally of former holdings of Magna International.
More at Wikipedia
Analysis and Opinions about GRT.UN-T
Signal
Opinion
Expert
COMMENT
COMMENT
December 10, 2019
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.
Show full opinionHide full opinion
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
BUY
December 2, 2019
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.
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
BUY
November 27, 2019
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.
Show full opinionHide full opinionHe 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
TOP PICK
November 4, 2019
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)
Show full opinionHide full opinionHe 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
TOP PICK
November 1, 2019
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)
Show full opinionHide full opinionREITs 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
PAST TOP PICK
October 31, 2019
(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%.
Show full opinionHide full opinion(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
BUY
August 27, 2019
A REIT for a TFSA? He likes multi-family residentials and industrials REITs. So, he likes IIP.UN-T and Granite REIT.
A REIT for a TFSA? He likes multi-family residentials and industrials REITs. So, he likes IIP.UN-T and Granite REIT.
TOP PICK
TOP PICK
August 22, 2019
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)
Show full opinionHide full opinionIs 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
TOP PICK
July 9, 2019
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)
Show full opinionHide full opinionA 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
TOP PICK
June 17, 2019
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.
Show full opinionHide full opinionIt 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.
BUY
BUY
May 30, 2019
Attractively priced today. Founded by Magna, which is now 51% of their revenue. Lots of capacity on balance sheet to acquire. Levered at only 17%, and they'll go to 35%. Big runway for growth. A very attractive name. Yield of around 5%.
Show full opinionHide full opinionAttractively priced today. Founded by Magna, which is now 51% of their revenue. Lots of capacity on balance sheet to acquire. Levered at only 17%, and they'll go to 35%. Big runway for growth. A very attractive name. Yield of around 5%.
HOLD
HOLD
December 5, 2018
This company is in a stage now where their balancer sheet is well positioned. They have a lot of strength ahead of it. It is trading at fair value.
Show full opinionHide full opinionThis company is in a stage now where their balancer sheet is well positioned. They have a lot of strength ahead of it. It is trading at fair value.
HOLD
HOLD
November 9, 2018
The yield is 4.9%. This is a safe hold. He has a $58 target on it. Dividend is safe. It has a low payout ratio for a REIT. They are doing a large transition now. He would hold on to this.
Show full opinionHide full opinionThe yield is 4.9%. This is a safe hold. He has a $58 target on it. Dividend is safe. It has a low payout ratio for a REIT. They are doing a large transition now. He would hold on to this.
BUY WEAKNESS
BUY WEAKNESS
August 16, 2018
You're buying this for the new CEO, not its assets. It was an industrial REIT and was the real estate entity of Magna. It's since diversified out of it. Granite doesn't have much leverage to expand into other industrial assets. It brought in the CEO of Pure Industrial REIT who is the right person in place. Are you too far along in the industrial real estate cycle for him to go out and find value? He thinks the industrial story has legs. He likes Granite. But it when it sells off a bit. Makes sense long term.
You're buying this for the new CEO, not its assets. It was an industrial REIT and was the real estate entity of Magna. It's since diversified out of it. Granite doesn't have much leverage to expand into other industrial assets. It brought in the CEO of Pure Industrial REIT who is the right person in place. Are you too far along in the industrial real estate cycle for him to go out and find value? He thinks the industrial story has legs. He likes Granite. But it when it sells off a bit. Makes sense long term.
COMMENT
COMMENT
October 19, 2017
There was a strategic review by management for potentially selling the company, but nothing came of that. There was some turnover with the CEO. The big issue is when it initially came to the market, it had very significant exposure to Magna (MG-T), which was their largest tenant. However, it had a pristine balance sheet. When you think of the Debt to Growth Book Value, it had approximately 25%, and the theory was that if they increased the leverage and took that Debt to Growth Book Value to 40%, they would have $1 billion to play with, diversify tenant exposure, make acquisitions. However they haven’t done any of that. That is unfortunate, because real estate prices have gone up significantly. It pays a decent dividend of 5%. His concern is that you really do need the leadership in there.
There was a strategic review by management for potentially selling the company, but nothing came of that. There was some turnover with the CEO. The big issue is when it initially came to the market, it had very significant exposure to Magna (MG-T), which was their largest tenant. However, it had a pristine balance sheet. When you think of the Debt to Growth Book Value, it had approximately 25%, and the theory was that if they increased the leverage and took that Debt to Growth Book Value to 40%, they would have $1 billion to play with, diversify tenant exposure, make acquisitions. However they haven’t done any of that. That is unfortunate, because real estate prices have gone up significantly. It pays a decent dividend of 5%. His concern is that you really do need the leadership in there.
