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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 62.9 million square feet of leasable area. 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. The Trust's investment properties consist of income-producing properties, properties under development and land held for development. The income producing properties consist primarily of logistics, e-commerce and distribution warehouses, and light industrial and heavy industrial manufacturing properties. 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.


TSX:GRT.UN - Post by User

Post by retiredcfon Oct 23, 2023 12:13pm
96 Views
Post# 35696463

Raymond James

Raymond James

After a tour of its recently built industrial facility development projects south of the border, Raymond James’ Brad Sturges lowered his Granite REIT (GRT.UN-T) target to $90 from $94, keeping a “strong buy” rating. The average is $93.40.

“While Granite may carry greater transitional vacancy in 2H23, we believe the successful lease-up of Granite’s U.S. vacancies may act as a near-term positive unit price catalyst,” he said. “Granite remains positioned to generate above-average AFFO/unit growth year-over-year, in our view, based on embedded contractual rent bumps, and strong rent spreads realized in Granite’s new and renewal leasing.”

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