Granite REIT

GRT.UN-T

TSE:GRT.UN

76.56
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
TOP PICK
TOP PICK
January 6, 2015

They were pretty much 100% a Magna property, which brings risk, but they have a great balance sheet, about half the leverage of the average REIT. The trick here is to add acquisitions, adding property other than Magna to reduce the risk profile and increase the distribution. As long as they can continue to execute and buy more properties at the right price, you see the dividend continued to increase. Yield of 5.31%.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
January 6, 2015

They were pretty much 100% a Magna property, which brings risk, but they have a great balance sheet, about half the leverage of the average REIT. The trick here is to add acquisitions, adding property other than Magna to reduce the risk profile and increase the distribution. As long as they can continue to execute and buy more properties at the right price, you see the dividend continued to increase. Yield of 5.31%.

HOLD
HOLD
October 16, 2014

Magna is the main tenant. They are trying to reduce that concentration to 50% from 85% now. They sold some non-core assets. He will not allocate capital here because he does not like the long term prospects. Payout ratio and leverage are low enough that there is not a lot of risk if you hold it for the distribution.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
October 16, 2014

Magna is the main tenant. They are trying to reduce that concentration to 50% from 85% now. They sold some non-core assets. He will not allocate capital here because he does not like the long term prospects. Payout ratio and leverage are low enough that there is not a lot of risk if you hold it for the distribution.

TOP PICK
TOP PICK
September 5, 2014

Large company with a lot of potential because its debt is very low and they have a lot of cash on the balance sheet. A lot of exposure to the auto industry, but they are expanding out of that. 5.37% yield, responsible management, safe growth. No equity dilution risk.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
September 5, 2014

Large company with a lot of potential because its debt is very low and they have a lot of cash on the balance sheet. A lot of exposure to the auto industry, but they are expanding out of that. 5.37% yield, responsible management, safe growth. No equity dilution risk.

TOP PICK
TOP PICK
July 15, 2014

Very low debt: 23% of market cap. They sold a bunch of Mexican assets. Tons of cash. Last transaction was in the Netherlands. They can expand without coming to market. Debt rates they get in Europe come with a 2% handle. The spread is fantastic, but it is not recognized in the stock price.

Show full opinionHide full opinion

Very low debt: 23% of market cap. They sold a bunch of Mexican assets. Tons of cash. Last transaction was in the Netherlands. They can expand without coming to market. Debt rates they get in Europe come with a 2% handle. The spread is fantastic, but it is not recognized in the stock price.

PAST TOP PICK
PAST TOP PICK
May 12, 2014

(A Top Pick March 7/13. Up 11.19%.) Liked this because of the new capable management team with leverage way below industry average, which means they have a lot of opportunity to make acquisitions and increased distributions. They still have a lot of potential to create value this way.

Show full opinionHide full opinion

(A Top Pick March 7/13. Up 11.19%.) Liked this because of the new capable management team with leverage way below industry average, which means they have a lot of opportunity to make acquisitions and increased distributions. They still have a lot of potential to create value this way.

BUY
BUY
April 29, 2014

Main tenant is Magna. 2017 leases were extended so less of an issue. Very low debt. They are able to accelerate their growth.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
April 29, 2014

Main tenant is Magna. 2017 leases were extended so less of an issue. Very low debt. They are able to accelerate their growth.

BUY
BUY
March 27, 2014

(Market Call Minute) Thinks they can diversify away from magna.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
March 27, 2014

(Market Call Minute) Thinks they can diversify away from magna.

COMMENT
COMMENT
March 19, 2014

If the annual payout rate has gone up 4.75% and if the auto sector takes a large hit, will this be affected drastically? This is his concern as well. This REIT represents an entity that has a majority of its assets leased on a single tenant basis to Magna International (MG-T). Any difficulty in Magna flows right through to the REIT. While it may not directly flow through on day 1 on news headlines, you have to believe that the underlying real estate is going to have a use further than what Magna has for it. The company has planned to reduce their exposure over the next 3-4 years to about 50% of their total assets. They are also in a great position, from a leveraged standpoint. They have the ability to grow by using debt and debt capital markets are wide open now have very attractive pricing. They can go out and buy industrial assets and diversify. Payout ratio is at a sustainable level. From his perspective, the single tenant risk is too high.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
March 19, 2014

If the annual payout rate has gone up 4.75% and if the auto sector takes a large hit, will this be affected drastically? This is his concern as well. This REIT represents an entity that has a majority of its assets leased on a single tenant basis to Magna International (MG-T). Any difficulty in Magna flows right through to the REIT. While it may not directly flow through on day 1 on news headlines, you have to believe that the underlying real estate is going to have a use further than what Magna has for it. The company has planned to reduce their exposure over the next 3-4 years to about 50% of their total assets. They are also in a great position, from a leveraged standpoint. They have the ability to grow by using debt and debt capital markets are wide open now have very attractive pricing. They can go out and buy industrial assets and diversify. Payout ratio is at a sustainable level. From his perspective, the single tenant risk is too high.

PAST TOP PICK
PAST TOP PICK
February 14, 2014

(A Top Pick March 7/13. Up 3.43%.) Owns all real estate that Magna (MG-T) operates on. Have tons of cash that they can use to diversify. Acquisition pace has been a little bit slower than everybody would’ve liked, but they are steadily making progress. Just renewed a big contract with Magna. Pays a pretty decent dividend yield.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
February 14, 2014

(A Top Pick March 7/13. Up 3.43%.) Owns all real estate that Magna (MG-T) operates on. Have tons of cash that they can use to diversify. Acquisition pace has been a little bit slower than everybody would’ve liked, but they are steadily making progress. Just renewed a big contract with Magna. Pays a pretty decent dividend yield.

BUY
BUY
December 20, 2013

Has taken longer to move than expected. Still thinks they can do some acquisitions. They are under leveraged compared to the overall REIT space. Likes the industrial side. They own the Magna (MG-T) buildings, which is having a very good run. Granite has a very good management team and is looking to diversify away from their dependence on Magna. 5.8% yield.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
December 20, 2013

Has taken longer to move than expected. Still thinks they can do some acquisitions. They are under leveraged compared to the overall REIT space. Likes the industrial side. They own the Magna (MG-T) buildings, which is having a very good run. Granite has a very good management team and is looking to diversify away from their dependence on Magna. 5.8% yield.

PAST TOP PICK
PAST TOP PICK
December 2, 2013

(A Top Pick Nov 1/12. Up 1.87%.) Performance has tempered a little bit because the whole REIT space has been hit. He feels they still have a lot of upside. They have a lot of balance sheet power and can spend a lot of money buying property, which they have been doing. Has been taking longer than some investors expect. Doing this, they will be a much more diversified company and the stock should go a lot higher.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
December 2, 2013

(A Top Pick Nov 1/12. Up 1.87%.) Performance has tempered a little bit because the whole REIT space has been hit. He feels they still have a lot of upside. They have a lot of balance sheet power and can spend a lot of money buying property, which they have been doing. Has been taking longer than some investors expect. Doing this, they will be a much more diversified company and the stock should go a lot higher.

BUY
BUY
November 6, 2013

Own a lot of the Magna (MG-T) properties and have very low debt with lots of opportunities to grow.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
November 6, 2013

Own a lot of the Magna (MG-T) properties and have very low debt with lots of opportunities to grow.

PAST TOP PICK
PAST TOP PICK
October 10, 2013

(Top Pick Oct 11/12, Up 6.63%) Largely he has rotated out of REITs. But he would buy it here.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
October 10, 2013

(Top Pick Oct 11/12, Up 6.63%) Largely he has rotated out of REITs. But he would buy it here.

HOLD
HOLD
August 30, 2013

Trimmed a little about $37. Good long term growth story. Industrial assets, some of which are leased to Magna. Clean balance sheet so can complete accretive acquisitions. Pretty good dividend growth story. A couple of big facilities are coming up for renewal and Magna may walk so that’s why he took some off the table.

Show full opinionHide full opinion
Granite REIT (GRT.UN-T)
August 30, 2013

Trimmed a little about $37. Good long term growth story. Industrial assets, some of which are leased to Magna. Clean balance sheet so can complete accretive acquisitions. Pretty good dividend growth story. A couple of big facilities are coming up for renewal and Magna may walk so that’s why he took some off the table.

COMMENT
COMMENT
July 9, 2013

An owner of industrial assets in Europe and North America. 90% of their assets are leased to Magna (MG-T). Many of those assets are pretty intense-use assets and have specific uses that only Magna would find useful. Going down the road, diversification of assets is going to be their biggest challenge. He would be concerned about lease expiries that are going to occur in 2013 and 2014 and what Magna plans to do with those assets. The single-tenant nature of their assets doesn’t appeal to him. Leverage is very low and their payout ratio is stable so he feels they will be able to navigate through any tough environments or downtime in assets.

Show full opinionHide full opinion

An owner of industrial assets in Europe and North America. 90% of their assets are leased to Magna (MG-T). Many of those assets are pretty intense-use assets and have specific uses that only Magna would find useful. Going down the road, diversification of assets is going to be their biggest challenge. He would be concerned about lease expiries that are going to occur in 2013 and 2014 and what Magna plans to do with those assets. The single-tenant nature of their assets doesn’t appeal to him. Leverage is very low and their payout ratio is stable so he feels they will be able to navigate through any tough environments or downtime in assets.

Showing 46 to 60 of 89 entries