Granite Real Estate Investment Trust (TSX:GRT.UN) units have appreciated 24% since Capital Ideas wrote about the REIT 26 months ago
Capital Ideas Media | September 19, 2022 | SmallCapPower: Last week, we wrote about WPT Industrial Real Estate Investment Trust (TSX:WIR.UN), an industrial REIT to play a growing eCommerce economy that has been given a boost by the COVID-19 pandemic.
[Editor’s Note: Units of Granite REIT have appreciated 24% since Capital Ideas wrote about the REIT 26 months ago.]
Today, we take a look at another Canadian industrial-type REIT: Granite Real Estate Investment Trust (TSX:GRT.UN). Granite owns more than 90 logistics, warehouse and industrial properties in North America and Europe.
[Please click here to get immediate access to curated research in the weekly Capital Ideas Digest with our free 30-Day Trial.]
Industrial Alliance Securities analyst Frederic Blondeau recently raised his target price on Granite REIT to $79 from $75, while maintaining a “Buy” rating on the units, after the Company announced an agreement to acquire eight U.S. income-producing properties for $332 million.
Mr. Blondeau noted that Granite, as at May 26, was able to collect 98% of rents due for the month of May. And, 99% of April’s rents had also been collected.
Granite REIT’s current liquidity position is $1.1 billion, and while the Industrial Alliance Securities analyst doesn’t expect the REIT to announce new acquisitions during the remainder of 2020, he does expect Granite to acquire $800 million in property in 2021.
GRT.UN has a current yield of 4.2%.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
 units have appreciated 11% since Capital Ideas wrote about the REIT about six weeks ago.){kind=link}