Granite Real Estate Investment Trust Stock Price, News & Analysis

Granite Real Estate Investment Trust (NYSE:GRPU) has received approval from the Toronto Stock Exchange for a Normal Course Issuer Bid (NCIB) to repurchase up to 6,566,292 Stapled Units over the next year, representing approximately 10% of its public float. The NCIB will commence on May 24, 2022, and runs until May 23, 2023. Daily purchases will be capped at 39,046 Stapled Units. The Board believes that acquiring units at perceived undervalued prices is beneficial for the company. Granite operates 137 properties across North America and Europe, totaling 57.3 million square feet.

Granite Real Estate Investment Trust (NYSE: GRPU) announced a distribution of CDN $0.2583 per stapled unit for May 2022. This distribution will be paid on June 15, 2022, to unitholders of record as of May 31, 2022. The stapled units will commence trading ex-dividend from May 30, 2022 on the Toronto Stock Exchange and May 27, 2022 on the NYSE. No part of this distribution is considered effectively connected income for U.S. federal tax purposes.

Granite Real Estate Investment Trust reported its Q1 2022 results, revealing a net operating income (NOI) of $91.2 million, up from $81.5 million in Q1 2021. The Trust's funds from operations (FFO) reached $69.4 million, translating to $1.05 per unit, compared to $57.1 million ($0.93 per unit) last year. Granite completed the acquisition of two income-producing properties and one under development in Indiana and Illinois, totaling 1.4 million square feet for approximately $193.6 million. The net income for the quarter surged to $497.7 million, buoyed by significant fair value gains on investment properties.

Granite Real Estate Investment Trust (NYSE: GRPU) has declared a distribution of CDN $0.2583 per stapled unit for April 2022. This distribution will be paid on May 16, 2022, to unitholders on record as of the close of trading on April 29, 2022. The stapled units will trade on an ex-dividend basis starting April 28, 2022. Additionally, no part of the distribution is considered effectively connected income for U.S. tax purposes. Granite operates 134 properties across North America and Europe, totaling around 55.9 million square feet.

Granite Real Estate Investment Trust (NYSE: GRPU) will announce its Q1 financial results for the period ending March 31, 2022 after market close on May 11, 2022. A conference call will follow on May 12, 2022 at 11:00 a.m. ET. Granite, a Canadian REIT, owns 134 properties with approximately 55.9 million square feet of leasable area across North America and Europe.

Granite Real Estate Investment Trust has declared a monthly distribution of CDN $0.2583 per stapled unit for March 2022. This distribution will be paid on April 14, 2022, to unitholders on record as of March 31, 2022. The stapled units will trade on an ex-dividend basis starting March 30, 2022. The company confirms that no part of this distribution is considered effectively connected income for U.S. federal tax purposes. Granite operates 134 properties totaling approximately 55.9 million square feet across North America and Europe.

Granite Real Estate Investment Trust reported strong combined results for Q4 2021, with net operating income rising to $86.3 million, up 11.4% from the previous year. The Trust acquired nine income-producing properties across Canada, the U.S., and Europe for approximately $510.3 million, contributing to a net income of $341.2 million, a significant increase from $167.6 million a year earlier. However, FFO and AFFO were negatively impacted by currency fluctuations, decreasing per unit by $0.04 and $0.04, respectively. Granite's AFFO payout ratio rose to 84%, indicating increased distributions to unitholders.

Granite Real Estate Investment Trust (NYSE: GRPU) has declared a monthly distribution of CDN $0.2583 per stapled unit for February 2022. The payment will be made on March 15, 2022, to unitholders of record as of February 28, 2022. The units will trade ex-dividend from February 25, 2022. Notably, no part of this distribution qualifies as effectively connected income for U.S. tax purposes. Granite, engaged in logistics and industrial property management, owns 126 investment properties with approximately 53.3 million square feet of leasable area.

Granite Real Estate Investment Trust (GRPU) has declared a monthly distribution of CDN $0.2583 per stapled unit for January 2022. This payment will be made on February 15, 2022, to unitholders recorded by the close of trading on January 31, 2022. Stapled units will trade on an ex-dividend basis starting January 28, 2022. Notably, the distribution does not constitute effectively connected income for U.S. federal tax purposes.