Bullboard - Stock Discussion Forum 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... see more

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TSX:GRT.UN - Post Discussion

Granite Real Estate Investment Trust > Scotiabank

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Post by retiredcf on May 22, 2024 8:29am

Scotiabank

Scotiabank analyst Himanshu Gupta remained overweight in industrial REITs after an industry conference,

“We are keeping an overweight position on Industrial REITs based on a combination of lower AFFO [adjusted funds from operations] multiples and higher AFFO-per-unit growth (which we believe is key to outperformance in the REIT sector); (1) we expect Seniors Housing to show the highest earnings growth among all asset classes in 2024; (Industrial REITs rank no. 3). However, we expect Industrial to show the highest growth in 2025 as interest expense becomes less of a headwind and SP NOI [same property net operating income] growth is likely to accelerate; (2) No valuation premium for Industrial REITs. Industrial REITs now trading in line with the REIT sector on a P/NAV basis (versus a 9-point premium, historically) and only a 0.5x turn premium on a P/AFFO multiple basis (versus a 3-turn premium, historically) ... We reiterate our SO rating on GRT and DIR "

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