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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
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
Granite Real Estate Investment Trust (NYSE: GRPU) will announce its Q1 financial results for the period ending
Granite Real Estate Investment Trust has declared a monthly distribution of CDN
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
Granite Real Estate Investment Trust (GRPU) has declared a monthly distribution of CDN
Granite Real Estate Investment Trust (NYSE:GRPU) will announce its financial results for the fourth quarter and year-ended December 31, 2021 after market close on March 9, 2022. A conference call, hosted by President and CEO Kevan Gorrie, is scheduled for March 10, 2022, at 11:00 a.m. ET, with toll-free dialing available for North American callers. Granite owns 126 investment properties totaling approximately 53.3 million square feet of leasable area across North America and Europe.
