Welcome to our dedicated page for Granite Real Estate Investment Trust news (Ticker: grpu), a resource for investors and traders seeking the latest updates and insights on Granite Real Estate Investment Trust stock.
Granite Real Estate Investment Trust (GRPU) is a Canadian-based real estate investment trust specializing in the acquisition, development, and management of industrial properties. Established with a strategic focus on high-quality industrial and logistics assets, Granite REIT caters to a diverse range of tenants primarily in the transportation, warehousing, and distribution sectors.
Core Business: Granite REIT's core business revolves around creating and maintaining a portfolio of industrial properties that yield stable, long-term returns. The company owns properties across North America and Europe, with a strong presence in key markets.
Recent Achievements: Granite REIT has recently expanded its portfolio through strategic acquisitions and developments. Notable projects include new logistics centers in key metropolitan areas aimed at servicing the growing demand from e-commerce and distribution companies.
Current Projects: The company is actively involved in several development projects that aim to enhance its property portfolio. These projects are designed to provide state-of-the-art facilities for existing and potential tenants, which include Fortune 500 companies.
Financial Condition: Granite REIT has shown strong financial performance with consistent revenue growth and a healthy balance sheet. The trust’s financial stability is underpinned by its diversified tenant base and long-term lease agreements.
Partnerships: Granite REIT collaborates with various stakeholders including developers, contractors, and financial institutions to drive its growth strategy. These partnerships are crucial for identifying new opportunities and optimizing property management.
Products: The company's primary offerings include leasing industrial warehouses and logistics facilities. These properties are tailored to meet the needs of modern businesses requiring large-scale, efficient distribution solutions.
Granite REIT continues to add value for investors through its focused strategy, robust portfolio, and commitment to sustainable growth. Stay informed about Granite REIT's latest news and developments to make well-informed investment decisions.
Granite Real Estate Investment Trust (GRPU) declared a distribution of CDN
Granite confirms that this distribution does not represent effectively connected income for U.S. federal tax purposes. A qualified notice will be issued to the Depository Trust & Clearing Corporation post-record date. Granite, based in Canada, operates logistics and industrial properties across North America and Europe, owning 140 investment properties totaling approximately 59.4 million square feet of leasable area.
Granite Real Estate Investment Trust (NYSE:GRPU) will announce its first quarter financial results for the period ending March 31, 2023, after market close on May 10, 2023. A conference call led by President and CEO Kevan Gorrie is scheduled for May 11, 2023, at 11:00 a.m. ET. Investors can participate by calling 1 (800) 920-3395 (North America) or 1 (416) 641-6700 (internationally). A replay will be available until May 22, 2023. Granite operates as a Canadian-based REIT, managing logistics and industrial properties, with ownership of 140 investment properties totaling approximately 59.4 million square feet in North America and Europe.
Granite Real Estate Investment Trust (NYSE: GRPU) declared a distribution of CDN
Granite Real Estate Investment Trust (GRPU) announced its financial results for Q4 and the fiscal year ended December 31, 2022. Key metrics include a net operating income of $102.4 million, a 6% increase in same property NOI, and a funds from operations (FFO) of $77.2 million ($1.20 per unit). However, Granite reported a net loss of $126.3 million largely due to a $579 million decline in the fair value of investment properties amidst rising interest rates. Notably, the AFFO payout ratio improved to 75%. Granite's development pipeline includes significant projects in Tennessee and Texas, with substantial leases already signed.
Granite Real Estate Investment Trust has announced a monthly distribution of CDN $0.2667 per stapled unit for February 2023. The distribution will be paid on March 15, 2023 to unit holders recorded at the close of trading on February 28, 2023. Ex-dividend trading will commence on February 27, 2023. Notably, no portion of this distribution is considered effectively connected income for U.S. federal tax purposes. Granite operates 141 properties across North America and Europe, totaling approximately 58.8 million square feet of leasable area.
Granite Real Estate Investment Trust (NYSE:GRPU) has extended the leases for its Graz, Austria facilities, comprising 5.0 million square feet, for ten years until January 31, 2034. Starting February 1, 2024, the annual rent for the first five years will increase with the consumer price index, capped at 10%. These facilities represent approximately 8% of Granite's annual revenue. Based in Canada, Granite specializes in logistics, warehouse, and industrial properties across North America and Europe, managing 141 properties with around 58.8 million square feet of leasable area.
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