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Granite Real Estate Investment Trust (NYSE: GRPU) announced a distribution of CAD
Granite Real Estate Investment Trust (NYSE:GRPU) announced an at-the-market equity distribution program (ATM Program) allowing it to sell up to $250 million of stapled units. The program, effective until November 1, 2023, enables Granite to issue units at the prevailing market price via the Toronto Stock Exchange or other platforms. Proceeds will support future acquisitions and development. The ATM Program's prospectus supplement will be available on SEDAR and EDGAR. Granite currently owns 126 properties totaling approximately 53.3 million square feet of leasable area.
Granite Real Estate Investment Trust (TSX: GRT.UN; NYSE: GRP.U) reported strong financial results for Q3 2021, with net operating income rising to $84.5 million from $76.5 million year-over-year. Funds from operations (FFO) increased to $65.2 million ($0.99 per unit), while adjusted funds from operations (AFFO) reached $61.2 million ($0.93 per unit). The Trust also announced $260 million in acquisitions across the U.S. and Netherlands and a 3.3% increase in distributions, effective December 2021. Granite's net income attributable to stapled unitholders surged to $421.8 million, bolstered by substantial fair value gains on investment properties.
Granite Real Estate Investment Trust (NYSE: GRPU) has declared a distribution of CAD
Granite Real Estate Investment Trust (NYSE: GRPU) will announce its third-quarter financial results on
Granite Real Estate Investment Trust (GRPU) announced a distribution of CAD
Granite Real Estate Investment Trust has successfully completed a C$500 million offering of 2.194% Series 6 senior unsecured debentures due on August 30, 2028. These debentures, guaranteed by Granite and its subsidiary, are part of Granite's second green bond issuance. The net proceeds will finance or refinance expenditures associated with Eligible Green Projects, as outlined in their Green Bond Framework. The debentures carry credit ratings of BBB (high) from DBRS and Baa2 from Moody’s.
Granite Real Estate Investment Trust has announced the pricing of a C$500 million offering of 2.194% Series 6 senior unsecured debentures due August 30, 2028. The debentures, guaranteed by Granite and Granite REIT Inc., are part of the company's second green bond issuance. The offering is expected to close on or about August 30, 2021, pending customary closing conditions. Proceeds will fund Eligible Green Projects as per Granite's Green Bond Framework. The company has engaged Scotia Capital Inc. and RBC Capital Markets as co-leads for the offering.
Granite Real Estate Investment Trust (NYSE: GRPU) has announced the acquisition of a development property in Brantford, Ontario, and a portfolio of five income-producing properties in the U.S., totaling approximately 4.2 million square feet for about C$330.7 million. The Brantford site will develop logistics space expected to yield 5.5% upon stabilization. Also, Granite has initiated a build-to-suit lease of 690,000 square feet with an e-commerce retailer in Houston, complementing its existing projects. These acquisitions aim to enhance Granite's portfolio and provide substantial net asset value growth.
Granite Real Estate Investment Trust (Granite) (TSX: GRT.UN / NYSE: GRP.U) has declared a distribution of CAD $0.250 per stapled unit for August 2021. This distribution will be paid on September 15, 2021, to unitholders of record by the close of trading on August 31, 2021. The units will trade ex-dividend starting August 30, 2021. The distribution does not constitute effectively connected income for U.S. federal tax purposes. Granite owns 118 investment properties totaling approximately 51.3 million square feet across North America and Europe.
