Granite Real Estate Investment Trust T.GRT.UN

BMO

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BMO initiated coverage of Granite REIT (GRT.UN-T) with an “outperform” rating and $98 target and Nexus Industrial REIT (NXR.UN-T) with a “market perform” rating and $11.50 target. The averages on the Street are $93.22 and $12.35, respectively.

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More details. GLTA “Our positive stance reflects GRT’s positioning as a modern and global industrial real estate business, solid near-term earnings growth potential, and strong balance sheet. The REIT’s weighting to Magna is still significant; however, the recent early renewal at Graz, which extended the lease maturities to 2034, has alleviated concerns,” he said.