(GRP-UN) Granite Real Estate - Ratings and Ratios
Logistics Facilities, Warehouses, Industrial Properties
GRP-UN EPS (Earnings per Share)
GRP-UN Revenue
Description: GRP-UN Granite Real Estate
Granite Real Estate Investment Trust is a Canadian-based REIT that specializes in acquiring, developing, owning, and managing logistics, warehouse, and industrial properties across North America and Europe. With a portfolio of 144 investment properties, Granite boasts a substantial presence in the industrial real estate sector, boasting approximately 63.3 million square feet of gross leasable area.
From a operational perspective, Granites focus on logistics and industrial properties positions it well for the growing e-commerce trend, which is driving demand for warehouse and distribution facilities. Key Performance Indicators (KPIs) to watch include occupancy rates, rental income growth, and same-store sales growth. A high occupancy rate, for instance, indicates a strong ability to attract and retain tenants, while rental income growth suggests a rising revenue stream. As of the latest available data, Granites occupancy rate stands at around 95%, indicating a robust demand for its properties.
To gauge Granites financial health, we can examine its debt-to-equity ratio, interest coverage ratio, and dividend yield. A debt-to-equity ratio of 0.63 suggests a reasonable level of leverage, while an interest coverage ratio of 3.5 indicates a comfortable ability to service its debt. The dividend yield, currently around 4.2%, provides a relatively attractive return for income-seeking investors. Furthermore, Granites Funds From Operations (FFO) per share, a key metric for REITs, has been steadily increasing, reflecting the companys ability to generate cash from its operations.
Investors should also consider Granites growth prospects, including its ability to acquire new properties, develop existing sites, and expand its geographic footprint. With a strong presence in North America and Europe, Granite is well-positioned to capitalize on emerging trends in the industrial real estate sector. As the company continues to execute its strategy, investors can expect to see improvements in key metrics such as NOI (Net Operating Income) growth and cash flow generation.
GRP-UN Stock Overview
| Market Cap in USD | 3,258m |
| Sector | Real Estate |
| Industry | REIT - Industrial |
| GiC Sub-Industry | Real Estate Development |
| IPO / Inception |
GRP-UN Stock Ratings
| Growth Rating | -10.3 |
| Fundamental | 66.8% |
| Dividend Rating | 65.9 |
| Rel. Strength | 11.3 |
| Analysts | 5.00 of 5 |
| Fair Price Momentum | 57.76 USD |
| Fair Price DCF | 131.34 USD |
GRP-UN Dividends
| Dividend Yield 12m | 4.58% |
| Yield on Cost 5y | 5.07% |
| Annual Growth 5y | 2.19% |
| Payout Consistency | 96.9% |
| Payout Ratio | 66.0% |
GRP-UN Growth Ratios
| Growth Correlation 3m | 88.8% |
| Growth Correlation 12m | -31% |
| Growth Correlation 5y | -30.6% |
| CAGR 5y | 3.14% |
| CAGR/Max DD 5y | 0.07 |
| Sharpe Ratio 12m | 0.76 |
| Alpha | 1.80 |
| Beta | 0.464 |
| Volatility | 27.98% |
| Current Volume | 2.5k |
| Average Volume 20d | 2.4k |
| Stop Loss | 54 (-3.1%) |
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income (315.4m TTM) > 0 and > 6% of Revenue (6% = 35.1m TTM) |
| FCFTA 0.04 (>2.0%) and ΔFCFTA 0.39pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -2.04% (prev -41.29%; Δ 39.24pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.04 (>3.0%) and CFO 363.6m > Net Income 315.4m (YES >=105%, WARN >=100%) |
| Net Debt (3.00b) to EBITDA (434.6m) ratio: 6.91 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.93 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (62.5m) change vs 12m ago -1.73% (target <= -2.0% for YES) |
| Gross Margin 82.55% (prev 83.31%; Δ -0.76pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 6.20% (prev 5.75%; Δ 0.45pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 4.91 (EBITDA TTM 434.6m / Interest Expense TTM 88.3m) >= 6 (WARN >= 3) |
Altman Z'' 2.41
| (A) -0.00 = (Total Current Assets 149.8m - Total Current Liabilities 161.8m) / Total Assets 9.63b |
| (B) 0.18 = Retained Earnings (Balance) 1.78b / Total Assets 9.63b |
| (C) 0.05 = EBIT TTM 433.3m / Avg Total Assets 9.43b |
| (D) 1.43 = Book Value of Equity 5.67b / Total Liabilities 3.96b |
| Total Rating: 2.41 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 66.76
| 1. Piotroski 3.0pt = -2.0 |
| 2. FCF Yield 4.88% = 2.44 |
| 3. FCF Margin 62.15% = 7.50 |
| 4. Debt/Equity 0.55 = 2.35 |
| 5. Debt/Ebitda 7.12 = -2.50 |
| 6. ROIC - WACC -0.23% = -0.29 |
| 7. RoE 5.66% = 0.47 |
| 8. Rev. Trend 95.36% = 4.77 |
| 9. Rev. CAGR 12.11% = 1.51 |
| 10. EPS Trend data missing |
| 11. EPS CAGR 33.45% = 2.50 |
As of August 10, 2025, the stock is trading at USD 55.75 with a total of 2,466 shares traded.
Over the past week, the price has changed by +4.21%, over one month by +9.67%, over three months by +23.36% and over the past year by +14.06%.
Partly, yes. Based on ValueRay´s Fundamental Analyses, Granite Real Estate (NYSE:GRP-UN) is currently (August 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 66.76 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of GRP-UN is around 57.76 USD . This means that GRP-UN is currently overvalued and has a potential downside of 3.61%.
Granite Real Estate has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy GRP-UN.
- Strong Buy: 1
- Buy: 0
- Hold: 0
- Sell: 0
- Strong Sell: 0
According to our own proprietary Forecast Model, GRP-UN Granite Real Estate will be worth about 62.4 in August 2026. The stock is currently trading at 55.75. This means that the stock has a potential upside of +11.89%.
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 67.5 | 21.1% |
| Analysts Target Price | 68.5 | 22.9% |
| ValueRay Target Price | 62.4 | 11.9% |
GRP-UN Fundamental Data Overview
CCE Cash And Equivalents = 123.1m CAD (Cash And Short Term Investments, last quarter)
P/E Trailing = 14.6575
P/E Forward = 12.7877
P/S = 5.5831
P/B = 0.7951
Beta = 1.181
Revenue TTM = 584.9m CAD
EBIT TTM = 433.3m CAD
EBITDA TTM = 434.6m CAD
Long Term Debt = 3.09b CAD (from longTermDebt, last quarter)
Short Term Debt = 960.0k CAD (from shortTermDebt, last quarter)
Debt = 3.09b CAD (Calculated: Short Term 960.0k + Long Term 3.09b)
Net Debt = 3.00b CAD (from netDebt column, last quarter)
Enterprise Value = 7.45b CAD (4.48b + Debt 3.09b - CCE 123.1m)
Interest Coverage Ratio = 4.91 (Ebit TTM 433.3m / Interest Expense TTM 88.3m)
FCF Yield = 4.88% (FCF TTM 363.5m / Enterprise Value 7.45b)
FCF Margin = 62.15% (FCF TTM 363.5m / Revenue TTM 584.9m)
Net Margin = 53.92% (Net Income TTM 315.4m / Revenue TTM 584.9m)
Gross Margin = 82.55% ((Revenue TTM 584.9m - Cost of Revenue TTM 102.1m) / Revenue TTM)
Tobins Q-Ratio = 1.32 (Enterprise Value 7.45b / Book Value Of Equity 5.67b)
Interest Expense / Debt = 0.73% (Interest Expense 22.7m / Debt 3.09b)
Taxrate = 7.86% (from yearly Income Tax Expense: 30.9m / 392.8m)
NOPAT = 399.3m (EBIT 433.3m * (1 - 7.86%))
Current Ratio = 0.93 (Total Current Assets 149.8m / Total Current Liabilities 161.8m)
Debt / Equity = 0.55 (Debt 3.09b / last Quarter total Stockholder Equity 5.67b)
Debt / EBITDA = 7.12 (Net Debt 3.00b / EBITDA 434.6m)
Debt / FCF = 8.51 (Debt 3.09b / FCF TTM 363.5m)
Total Stockholder Equity = 5.57b (last 4 quarters mean)
RoA = 3.27% (Net Income 315.4m, Total Assets 9.63b )
RoE = 5.66% (Net Income TTM 315.4m / Total Stockholder Equity 5.57b)
RoCE = 5.00% (Ebit 433.3m / (Equity 5.57b + L.T.Debt 3.09b))
RoIC = 4.61% (NOPAT 399.3m / Invested Capital 8.66b)
WACC = 4.84% (E(4.48b)/V(7.58b) * Re(7.72%)) + (D(3.09b)/V(7.58b) * Rd(0.73%) * (1-Tc(0.08)))
Shares Correlation 5-Years: -100.0 | Cagr: -0.99%
Discount Rate = 7.72% (= CAPM, Blume Beta Adj.) -> floored to rf + ERP 8.05%
[DCF Debug] Terminal Value 79.10% ; FCFE base≈343.0m ; Y1≈372.8m ; Y5≈466.3m
Fair Price DCF = 131.3 (DCF Value 8.00b / Shares Outstanding 60.9m; 5y FCF grow 9.88% → 2.90% )
Revenue Correlation: 95.36 | Revenue CAGR: 12.11%
Revenue Growth Correlation: -30.30%
EPS Correlation: N/A | EPS CAGR: 33.45%
EPS Growth Correlation: 22.50%
Additional Sources for GRP-UN Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle