In a report released today, Mark Rothschild from Canaccord Genuity maintained a Buy rating on Granite Real Estate, with a price target of C$88.00.
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Mark Rothschild has given his Buy rating due to a combination of factors that highlight Granite Real Estate’s potential for growth and value. Despite the headline FFO per unit falling short of expectations, the company’s leasing activity has picked up pace, and management’s outlook on industrial property fundamentals appears more optimistic. This positive sentiment is further reinforced by the increased guidance for same-property NOI and FFO per unit for the remainder of 2025.
Additionally, Granite’s strategic acquisitions and repurchase of units indicate a proactive approach to capital management. The REIT’s acquisition of two industrial properties for $49.5 million in Broward County, with a going-in yield of 5.0%, demonstrates its focus on growth. Furthermore, Granite’s strong leasing spreads and internal growth have contributed to a 6% year-over-year increase in FFO per unit. The company’s valuation, trading at an implied cap rate of 6.5% and a significant discount to NAV, along with its cash flow multiple, supports the Buy recommendation.
In another report released on July 30, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$84.00 price target.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GRT.UN in relation to earlier this year.