Granite Real Estate Investment Trust T.GRT.UN

Alternate Symbol(s): GRP.U

Granite Real Estate Investment Trust (the Trust) is a Canada-based real estate investment trust. The Trust is engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. The Trust owns 143 investment properties representing approximately 63.3 million square feet of leasable area. The Trust’s investment properties consist of income-producing properties, and development properties. The income-producing properties consist primarily of logistics, e-commerce and distribution warehouses, and light industrial and heavy industrial manufacturing properties. The Trust has approximately 38 industrial properties in Canada, 66 in the United States, 16 in the Netherlands, 14 in Germany and nine in Australia. All of its income-producing properties are for industrial use and can be categorized as distribution/e-commerce, industrial/warehouse, flex/office or special purpose properties.

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Granite Real Estate Investment Trust

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Post by retiredcfon Nov 07, 2021 4:32pm

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Post# 34097825

Ben Graham

Courtesy of Torontojay. GLTA

For many years Ive always been intrigued by Graham's criteria for investing. Every now and then I would add a pick or two from this short list to include in my portfolio. If one wants additional diversification then it's best to include some American companies as well. The results over the years have been impressive.

Ben Graham criteria ( a Norm Rothery modification)

1) price to earnings less 15
2) price to book less than 1.5
3) current ratio greater than 2
4) positive earnings in each of the last 5 years
5) eps growth of at least 3% over last 5 years
6) positive dividend growth over the last 5 years
7) revenue greater than $400 million

Doman building materials passes this test and is one of 2 Canadian companies to be included on the short list. The other company is Algoma Central. A few honorable mentions goes towards Exco technologies which fails the 5th criteria and Granite Reit which passes the test except for revenues being slightly below $400 million. I will be paying much attention to these companies to see how they fare in 2022.