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GRTUF

Granite Real Estate Investment Trust

Price Chart
Latest Quote

$66.23

+0.04 (+0.06%)
Current Price
Previous Close $66.19
Open $66.19
Day High $66.24
Day Low $66.17
Volume 250
Fetched: 2026-06-24T12:10:15
Stock Information
Note: Financial values converted from CAD to USD
Quarterly Dividend / Yield $2.54 / 3.83%
Shares Outstanding 60.71M
Quarterly Dividend Yield 3.83%
Quarterly Dividend $2.54
Total Debt $2.27B
Cash Equivalents $66.47M
Revenue $442.58M
Net Income $273.85M
Sector Real Estate
Industry REIT - Industrial
Market Cap $4.02B
P/E Ratio 14.59
EPS (TTM) $4.54
Exchange OQX
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📊 Comprehensive Analysis
Company Data
Enterprise Value$7.17B
Sales$442.58M
Income$273.85M
Book/sh$65.44
Cash/sh$1.56
Employees70
Financial Ratios
Quick Ratio0.21
Current Ratio0.35
Debt/Eq57.31
EPS Growth TTM108.10%
Returns & Margins
ROA3.03%
ROE6.90%
Gross Margin82.25%
Operating Margin73.74%
Profit Margin61.88%
Ownership
Insider Ownership0.27%
Institutional Ownership31.93%
Insider & Institutional transactions data not available
Valuation Ratios
P/S6.38
P/B1.01
Analyst Data
Recommendationnone
Technical Indicators
SMA20$68.19
SMA50$67.32
SMA200$59.71
RSI16.70
ATR0.5132
Shares Float60.44M
Short Ratio20.75
Rel Volume0.04
Performance History
Week-1.58%
Month-3.02%
Quarter+12.14%
6 Months+21.73%
YTD+21.08%
Year+39.21%
3 Years+31.88%
5 Years+29.44%
10 Years+310.59%
Stock Score: ⭐ Premium
Based on debt, profitability, growth, and cash flow metrics
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Recent Price History
Date Close Volume
2026-06-23 $66.23 100
2026-06-22 $66.19 0
2026-06-18 $66.19 6,899
2026-06-17 $66.34 4,026
2026-06-16 $67.29 0
2026-06-15 $67.29 0
2026-06-12 $67.29 0
2026-06-11 $67.29 13,494
2026-06-10 $67.26 2,849
2026-06-09 $69.13 2,125
2026-06-08 $68.23 2,153
2026-06-05 $68.60 0
2026-06-04 $68.60 9,627
2026-06-03 $70.10 0
2026-06-02 $70.10 0
2026-06-01 $70.10 0
2026-05-29 $70.10 400
2026-05-28 $69.67 5,791
2026-05-27 $68.79 5,158
2026-05-26 $68.96 3,824
About Granite Real Estate Investment Trust

Granite Real Estate Investment Trust is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 145 investment properties representing approximately 61.5 million square feet of leasable area. Granite Real Estate Investment Trust was incorporated in 2003 in Ontario, Canada.

Period:
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Income Statement (Annual)
Metric 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenue
Reconciled Cost Of Revenue $97,153,000 $86,012,000 $75,221,000 $60,812,000
Cost Of Revenue $97,153,000 $86,012,000 $75,221,000 $60,812,000
Total Revenue $569,139,000 $521,250,000 $455,579,000 $393,488,000
Operating Revenue $478,145,000 $444,044,000 $386,892,000 $340,292,000
Expenses
Interest Expense $86,435,000 $72,864,000 $45,183,000 $39,393,000
Total Expenses $133,880,000 $128,577,000 $106,284,000 $100,532,000
Rent Expense Supplemental $662,000 $623,000 $491,000 $437,000
Other Income Expense $40,322,000 $-192,657,000 $-207,796,000 $1,298,037,000
Net Non Operating Interest Income Expense $-82,825,000 $-71,009,000 $-49,342,000 $-40,154,000
Total Other Finance Cost $3,463,000 $5,853,000 $5,784,000 $3,870,000
Interest Expense Non Operating $86,435,000 $72,864,000 $45,183,000 $39,393,000
Operating Expense $36,727,000 $42,565,000 $31,063,000 $39,720,000
General And Administrative Expense $36,335,000 $40,298,000 $28,598,000 $37,770,000
Income & Earnings
Net Income From Continuing Operation Net Minority Interest $360,609,000 $136,662,000 $155,768,000 $1,309,937,000
Net Interest Income $-82,825,000 $-71,009,000 $-49,342,000 $-40,154,000
Interest Income $7,073,000 $7,708,000 $1,625,000 $3,109,000
Normalized Income $323,456,656 $252,256,200 $309,100,668 $213,252,214
Net Income From Continuing And Discontinued Operation $360,609,000 $136,662,000 $155,768,000 $1,309,937,000
Net Income Common Stockholders $360,609,000 $136,662,000 $155,768,000 $1,309,937,000
Net Income $360,609,000 $136,662,000 $155,768,000 $1,309,937,000
Net Income Including Noncontrolling Interests $361,882,000 $138,496,000 $155,822,000 $1,310,272,000
Net Income Continuous Operations $361,882,000 $138,496,000 $155,822,000 $1,310,272,000
Pretax Income $392,756,000 $129,007,000 $92,157,000 $1,550,839,000
Special Income Charges $-3,471,000 $-147,000 $0 $-3,963,000
Interest Income Non Operating $7,073,000 $7,708,000 $1,625,000 $3,109,000
Operating Income $435,259,000 $392,673,000 $349,295,000 $292,956,000
Depreciation Amortization Depletion Income Statement $1,289,000 $1,272,000 $1,598,000 $1,320,000
Depreciation And Amortization In Income Statement $1,289,000 $1,272,000 $1,598,000 $1,320,000
Gross Profit $471,986,000 $435,238,000 $380,358,000 $332,676,000
Per Share
Diluted EPS $5.71 $2.14 $2.39 $20.47
Basic EPS $5.72 $2.15 $2.39 $20.47
Other
Tax Effect Of Unusual Items $3,169,656 $-77,062,800 $-54,463,332 $201,352,214
Tax Rate For Calcs $0 $0 $0 $0
Normalized EBITDA (Bullshit earnings) $440,158,000 $395,800,000 $346,734,000 $293,515,000
Total Unusual Items $40,322,000 $-192,657,000 $-207,796,000 $1,298,037,000
Total Unusual Items Excluding Goodwill $40,322,000 $-192,657,000 $-207,796,000 $1,298,037,000
Reconciled Depreciation $1,289,000 $1,272,000 $1,598,000 $1,320,000
EBITDA (Bullshit earnings) $480,480,000 $203,143,000 $138,938,000 $1,591,552,000
EBIT $479,191,000 $201,871,000 $137,340,000 $1,590,232,000
Diluted Average Shares $63,200,000 $63,900,000 $65,300,000 $64,000,000
Basic Average Shares $63,000,000 $63,700,000 $65,200,000 $64,000,000
Diluted NI Availto Com Stockholders $360,609,000 $136,662,000 $155,768,000 $1,309,937,000
Minority Interests $-1,273,000 $-1,834,000 $-54,000 $-335,000
Tax Provision $30,874,000 $-9,489,000 $-63,665,000 $240,567,000
Restructuring And Mergern Acquisition $3,471,000 $147,000 - -
Gain On Sale Of Security $43,793,000 $-192,510,000 $-207,796,000 $1,302,000,000
Other Taxes $-897,000 $995,000 $867,000 $630,000
Selling General And Administration $36,335,000 $40,298,000 $28,598,000 $37,770,000
Other Gand A $11,356,000 $11,161,000 $9,824,000 $7,594,000
Rent And Landing Fees $662,000 $623,000 $491,000 $437,000
Salaries And Wages $24,317,000 $28,514,000 $18,283,000 $29,739,000
Excise Taxes $-57,745,000 $-52,862,000 $-48,147,000 $-38,898,000
Other Special Charges - - - $3,963,000
Fetched: 2026-02-02
Balance Sheet (Annual)
Metric 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets
Net Tangible Assets $5,728,236,000 $5,276,951,000 $5,475,375,000 $5,318,653,000
Total Assets $9,619,745,000 $9,066,377,000 $9,280,354,000 $8,566,697,000
Total Non Current Assets $9,461,742,000 $8,914,679,000 $9,006,760,000 $8,080,168,000
Non Current Deferred Assets $2,903,000 $2,911,000 $2,519,000 $6,924,000
Non Current Deferred Taxes Assets $668,000 $639,000 $629,000 $4,452,000
Non Current Accounts Receivable $264,000 $283,000 $291,000 $308,000
Financial Assets $57,375,000 $100,200,000 $151,855,000 $62,768,000
Current Assets $158,003,000 $151,698,000 $273,594,000 $486,529,000
Other Current Assets $12,947,000 $13,767,000 $14,681,000 $7,196,000
Hedging Assets Current $0 $9,042,000 $0 -
Receivables $18,881,000 $12,755,000 $82,650,000 $12,208,000
Taxes Receivable $534,000 $589,000 $1,288,000 $1,437,000
Accounts Receivable $18,347,000 $12,166,000 $12,176,000 $10,771,000
Cash Cash Equivalents And Short Term Investments $126,175,000 $116,134,000 $135,081,000 $402,513,000
Cash And Cash Equivalents $126,175,000 $116,134,000 $135,081,000 $402,513,000
Cash Equivalents $0 $420,000 $7,990,000 $559,000
Cash Financial $126,175,000 $115,714,000 $127,091,000 $401,954,000
Non Current Prepaid Assets - $0 $8,487,000 $26,053,000
Assets Held For Sale Current - $0 $41,182,000 $64,612,000
Loans Receivable - $0 $69,186,000 $0
Non Current Note Receivables - - $0 $10,471,000
Prepaid Assets - - - $7,196,000
Debt
Net Debt $2,952,278,000 $2,949,848,000 $2,899,929,000 $2,023,339,000
Total Debt $3,112,840,000 $3,099,163,000 $3,068,733,000 $2,458,002,000
Long Term Debt And Capital Lease Obligation $3,111,895,000 $2,854,265,000 $2,616,907,000 $2,457,497,000
Long Term Debt $3,078,453,000 $2,821,849,000 $2,583,930,000 $2,425,852,000
Current Debt And Capital Lease Obligation $945,000 $244,898,000 $451,826,000 $505,000
Current Debt - $244,133,000 $451,080,000 -
Other Current Borrowings - $244,133,000 $451,080,000 -
Liabilities
Total Liabilities Net Minority Interest $3,883,116,000 $3,782,736,000 $3,800,007,000 $3,245,163,000
Total Non Current Liabilities Net Minority Interest $3,736,089,000 $3,398,245,000 $3,180,689,000 $3,080,788,000
Derivative Product Liabilities $32,298,000 $8,429,000 $6,391,000 $18,624,000
Non Current Deferred Liabilities $591,896,000 $535,551,000 $557,391,000 $604,667,000
Non Current Deferred Taxes Liabilities $591,896,000 $535,551,000 $557,391,000 $604,667,000
Current Liabilities $147,027,000 $384,491,000 $619,318,000 $164,375,000
Other Current Liabilities $7,671,000 $8,621,000 $12,180,000 $5,511,000
Current Deferred Liabilities $18,685,000 $17,810,000 $17,358,000 $12,099,000
Payables And Accrued Expenses $101,904,000 $96,046,000 $125,028,000 $125,800,000
Interest Payable $20,462,000 $15,135,000 $9,974,000 $7,235,000
Payables $56,978,000 $50,719,000 $52,831,000 $61,716,000
Other Payable $6,689,000 $6,093,000 $7,257,000 $6,822,000
Dividends Payable $17,762,000 $17,415,000 $16,991,000 $16,969,000
Total Tax Payable $18,987,000 $15,811,000 $17,379,000 $29,943,000
Income Tax Payable $10,561,000 $10,032,000 $11,292,000 $21,558,000
Accounts Payable $13,540,000 $11,400,000 $11,204,000 $7,982,000
Current Notes Payable - - $399,707,000 $0
Other Non Current Liabilities - - - $6,822,000
Equity
Common Stock Equity $5,728,236,000 $5,276,951,000 $5,475,375,000 $5,318,653,000
Total Equity Gross Minority Interest $5,736,629,000 $5,283,641,000 $5,480,347,000 $5,321,534,000
Stockholders Equity $5,728,236,000 $5,276,951,000 $5,475,375,000 $5,318,653,000
Gains Losses Not Affecting Retained Earnings $649,332,000 $306,420,000 $413,532,000 $71,951,000
Other Equity Adjustments $649,332,000 $306,420,000 $413,532,000 $71,951,000
Retained Earnings $1,787,159,000 $1,634,748,000 $1,702,420,000 $1,748,958,000
Other
Ordinary Shares Number $62,724,884 $63,355,771 $63,707,902 $65,694,048
Share Issued $62,724,884 $63,355,771 $63,707,902 $65,694,048
Tangible Book Value $5,728,236,000 $5,276,951,000 $5,475,375,000 $5,318,653,000
Invested Capital $8,806,689,000 $8,342,933,000 $8,510,385,000 $7,744,505,000
Working Capital $10,976,000 $-232,793,000 $-345,724,000 $322,154,000
Capital Lease Obligations $34,387,000 $33,181,000 $33,723,000 $32,150,000
Total Capitalization $8,806,689,000 $8,098,800,000 $8,059,305,000 $7,744,505,000
Minority Interest $8,393,000 $6,690,000 $4,972,000 $2,881,000
Additional Paid In Capital $0 $5,250,000 $11,601,000 $53,326,000
Capital Stock $3,291,745,000 $3,330,533,000 $3,347,822,000 $3,444,418,000
Common Stock $3,291,745,000 $3,330,533,000 $3,347,822,000 $3,444,418,000
Long Term Capital Lease Obligation $33,442,000 $32,416,000 $32,977,000 $31,645,000
Current Deferred Revenue $18,685,000 $17,810,000 $17,358,000 $12,099,000
Current Capital Lease Obligation $945,000 $765,000 $746,000 $505,000
Pensionand Other Post Retirement Benefit Plans Current $17,822,000 $17,116,000 $12,926,000 $20,460,000
Current Accrued Expenses $44,926,000 $45,327,000 $72,197,000 $64,084,000
Investment Properties $9,397,286,000 $8,808,139,000 $8,839,571,000 $7,971,158,000
Net PPE $3,914,000 $3,146,000 $4,037,000 $2,486,000
Fetched: 2026-02-02
Cash Flow Statement (Annual)
Metric 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Free Cash Flow
Free Cash Flow $338,484,000 $312,896,000 $276,689,000 $261,675,000
Operating Activities
Operating Cash Flow $338,609,000 $313,181,000 $277,496,000 $262,264,000
Cash Flow From Continuing Operating Activities $338,609,000 $313,181,000 $277,496,000 $262,264,000
Operating Gains Losses $-42,820,000 $191,477,000 $209,011,000 $-1,292,927,000
Investing Activities
Capital Expenditure $-125,000 $-285,000 $-807,000 $-589,000
Investing Cash Flow $-65,460,000 $-128,127,000 $-766,556,000 $-1,025,424,000
Cash Flow From Continuing Investing Activities $-65,460,000 $-128,127,000 $-766,556,000 $-1,025,424,000
Net Other Investing Changes $-6,392,000 $68,076,000 $-61,058,000 $-2,935,000
Financing Activities
Repurchase Of Capital Stock $-45,808,000 $-26,994,000 $-155,525,000 $0
Financing Cash Flow $-267,495,000 $-203,110,000 $214,559,000 $333,475,000
Cash Flow From Continuing Financing Activities $-267,495,000 $-203,110,000 $214,559,000 $333,475,000
Net Other Financing Charges $15,693,000 $-18,535,000 $-6,604,000 $-18,941,000
Cash Dividends Paid $-207,851,000 $-203,910,000 $-202,284,000 $-191,082,000
Common Stock Dividend Paid $-207,851,000 $-203,910,000 $-202,284,000 $-191,082,000
Net Common Stock Issuance $-45,808,000 $-26,994,000 $-142,410,000 $303,060,000
Issuance Of Capital Stock - $0 $13,115,000 $303,060,000
Common Stock Issuance - $0 $13,115,000 $303,060,000
Other
Repayment Of Debt $-824,686,000 $-548,218,000 $-264,827,000 $-254,711,000
Issuance Of Debt $795,712,000 $595,464,000 $830,684,000 $498,063,000
End Cash Position $126,175,000 $116,134,000 $135,081,000 $402,513,000
Beginning Cash Position $116,134,000 $135,081,000 $402,513,000 $831,280,000
Effect Of Exchange Rate Changes $4,387,000 $-891,000 $7,069,000 $918,000
Changes In Cash $5,654,000 $-18,056,000 $-274,501,000 $-429,685,000
Interest Paid Cff $-555,000 $-917,000 $0 $-2,914,000
Common Stock Payments $-45,808,000 $-26,994,000 $-155,525,000 $0
Net Issuance Payments Of Debt $-28,974,000 $47,246,000 $565,857,000 $243,352,000
Net Long Term Debt Issuance $-28,974,000 $47,246,000 $565,857,000 $243,352,000
Long Term Debt Payments $-824,686,000 $-548,218,000 $-264,827,000 $-254,711,000
Long Term Debt Issuance $795,712,000 $595,464,000 $830,684,000 $498,063,000
Net Investment Properties Purchase And Sale $-58,943,000 $-195,918,000 $-704,691,000 $-1,021,900,000
Sale Of Investment Properties $0 $43,773,000 $63,943,000 $35,428,000
Purchase Of Investment Properties $-58,943,000 $-239,691,000 $-768,634,000 $-1,057,328,000
Net PPE Purchase And Sale $-125,000 $-285,000 $-807,000 $-589,000
Purchase Of PPE $-125,000 $-285,000 $-807,000 $-589,000
Taxes Refund Paid $-8,315,000 $-8,258,000 $-18,090,000 $-7,039,000
Interest Paid Cfo $-79,480,000 $-72,460,000 $-52,494,000 $-40,483,000
Change In Working Capital $-7,739,000 $-4,663,000 $-102,000 $-2,046,000
Change In Other Working Capital $-90,000 $654,000 $4,702,000 $191,000
Change In Payables And Accrued Expense $-2,332,000 $-1,727,000 $-4,209,000 $4,781,000
Change In Prepaid Assets $642,000 $-3,390,000 $-2,269,000 $-2,899,000
Change In Receivables $-5,959,000 $-200,000 $1,674,000 $-4,119,000
Changes In Account Receivables $-5,959,000 $-200,000 $1,674,000 $-4,119,000
Other Non Cash Items $77,558,000 $66,593,000 $45,583,000 $40,158,000
Stock Based Compensation $5,360,000 $10,213,000 $-167,000 $12,442,000
Deferred Tax $30,874,000 $-9,489,000 $-63,665,000 $240,567,000
Deferred Income Tax $30,874,000 $-9,489,000 $-63,665,000 $240,567,000
Depreciation Amortization Depletion $1,289,000 $1,272,000 $1,598,000 $1,320,000
Depreciation And Amortization $1,289,000 $1,272,000 $1,598,000 $1,320,000
Gain Loss On Investment Securities $-58,203,000 $191,477,000 $209,011,000 $-1,296,890,000
Net Foreign Currency Exchange Gain Loss $15,383,000 $0 - -
Net Income From Continuing Operations $361,882,000 $138,496,000 $155,822,000 $1,310,272,000
Net Short Term Debt Issuance - - $254,804,000 $0
Short Term Debt Issuance - - $254,804,000 $0
Net Business Purchase And Sale - - - $454,000
Sale Of Business - - - $454,000
Purchase Of Business - - - $-26,466,000
Unrealized Gain Loss On Investment Securities - - - $1,214,000
Fetched: 2026-02-02