Stock GRP.U GRANITE REAL ESTATE INVESTMENT TRUST
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Financials Granite Real Estate Investment Trust Nyse

Equities

GRP.U

CA3874371147

Commercial REITs

Market Closed - Nyse
Other stock markets
 04:10:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
50.61 USD +0.60% Intraday chart for Granite Real Estate Investment Trust -0.02% -12.30%
Apr. 17 Granite Real Estate Investment Trust Declares Distribution for April 2024, Payable on May 15, 2024 CI
Apr. 17 REITs Brief: Bloomberg Reporting That Ontario Teachers' Pension Plan Weighing $5 Billion Sale of Amica, a private provider of luxury seniors residences MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 3,566 4,806 6,924 4,401 4,835 4,401 -
Enterprise Value (EV) 1 3,566 4,806 6,924 7,196 7,718 4,401 4,401
P/E ratio - - - - - - -
Yield 4.26% 3.74% 2.86% 4.49% 4.2% 4.75% 4.83%
Capitalization / Revenue 13 x 14.1 x 17.6 x 9.66 x 9.28 x 8.05 x 7.64 x
EV / Revenue 13 x 14.1 x 17.6 x 9.66 x 9.28 x 8.05 x 7.64 x
EV / EBITDA 17.2 x 18.4 x 23.5 x 12.5 x 12.3 x 10.2 x 9.51 x
EV / FCF - 25.6 x -9.18 x -10.5 x 39.3 x 314 x 142 x
FCF Yield - 3.91% -10.9% -9.53% 2.54% 0.32% 0.7%
Price to Book - - - - - - -
Nbr of stocks (in thousands) 54,053 61,688 65,694 63,705 63,389 63,356 -
Reference price 2 65.98 77.90 105.4 69.08 76.28 69.47 69.47
Announcement Date 3/4/20 3/3/21 3/9/22 3/8/23 2/28/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 273.7 340.2 393.5 455.6 521.2 546.5 576.3
EBITDA 1 206.9 260.8 294.3 350.9 393.8 431.9 462.8
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) 1 - 499 - - - 343.7 363.4
Net income 1 - 429.8 - - - 334.1 353.4
Net margin - 126.34% - - - 61.13% 61.32%
EPS - - - - - - -
Free Cash Flow 1 - 187.7 -754.4 -419.3 123 14 31
FCF margin - 55.16% -191.72% -92.03% 23.59% 2.56% 5.38%
FCF Conversion (EBITDA) - 71.95% - - 31.22% 3.24% 6.7%
FCF Conversion (Net income) - 43.66% - - - 4.19% 8.77%
Dividend per Share 2 2.810 2.910 3.010 3.100 3.200 3.302 3.352
Announcement Date 3/4/20 3/3/21 3/9/22 3/8/23 2/28/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 105.3 108.6 109.8 111.6 125.6 129.6 130.3 131.5 129.8 132.3 133 134.4 138.7 139.4
EBITDA 1 73.92 82.8 86.78 87.5 93.8 92.74 99.69 100.8 100.6 102.1 - - - -
EBIT - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - -
Earnings before Tax (EBT) 1 - - - - - - - - - 84 85.4 86.5 87.8 88.6
Net income 1 - - - - - - - - - 81.7 83 84.1 85.4 86.2
Net margin - - - - - - - - - 61.75% 62.41% 62.57% 61.57% 61.84%
EPS - - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - 3.300 -
Announcement Date 3/9/22 5/11/22 8/10/22 11/9/22 3/8/23 5/10/23 8/9/23 11/8/23 2/28/24 - - - - -
1CAD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - 2,795 2,882 - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - 7.966 x 7.319 x - -
Free Cash Flow 1 - 188 -754 -419 123 14 31
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets 1 - - - - - - -
Book Value Per Share - - - - - - -
Cash Flow per Share - - - - - - -
Capex - 1.69 - - - - -
Capex / Sales - 0.5% - - - - -
Announcement Date 3/4/20 3/3/21 3/9/22 3/8/23 2/28/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
69.47 CAD
Average target price
88.05 CAD
Spread / Average Target
+26.75%
Consensus

Quarterly revenue - Rate of surprise

Company calendar

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  5. Financials Granite Real Estate Investment Trust