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Granite Real Estate (TSE:GRT.UN)
:GRT.UN
Holding TSE:GRT.UN?
Track your performance easily
Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.49Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2018
|% Change Since: -6.97%
|Next Earnings Date:Jul 31, 2018
Earnings Call Sentiment|Positive
The earnings call presented a generally positive performance with strong NOI growth, increased FFO and AFFO, successful leasing and expansions, and significant ESG achievements. However, challenges such as increased G&A expenses, occupancy declines, tenant bankruptcy, and potential economic policy impacts were also highlighted.Company Guidance
In the Q3 2024 earnings call for Granite REIT, the company provided guidance indicating a promising financial trajectory with several key metrics highlighted. The Funds from Operations (FFO) per unit for the quarter was reported at $1.35, a 2.3% increase from Q2, and an 8.9% increase from the previous year, aligning with the annual guidance. The Adjusted Funds from Operations (AFFO) per unit increased to $1.22, up $0.05 from Q2 and $0.13 from the same quarter last year. The Net Operating Income (NOI) showed robust growth due to favorable leasing spreads and expansion projects, although slightly offset by new vacancies. Same-property NOI grew by 6.2% on a constant currency basis, with an 8% increase when foreign currency effects were considered. The guidance for 2024 was updated, maintaining the FFO per unit range between $5.30 to $5.40, while the AFFO per unit forecast was revised to $4.65 to $4.75 due to reduced capital expenditure estimates. The company's balance sheet remained strong with total assets of $9.3 million and a weighted average cap rate of 5.3% on in-place NOI. Granite's liquidity was bolstered to approximately $1.4 billion, with no borrowings under its credit facility. Overall, Granite REIT's strategic refinancing and leasing activities underscore a stable outlook with anticipated continued growth in NOI and cash flow for 2024.Strong NOI Growth
Granite posted results ahead of Q2 and in line with annual forecast, largely driven by strong NOI growth. Same-property NOI increased 6.2% on a constant currency basis and 8% with foreign currency effects.
Increase in FFO and AFFO
FFO per unit in Q3 was $1.35, a 2.3% increase from Q2 and an 8.9% increase relative to the same quarter last year. AFFO per unit increased by $0.05 relative to Q2 and $0.13 relative to the same quarter last year.
Successful Leasing and Developments
Achieved an average rental rate increase of 55% over expiring rents. Completed expansions in Ajax, Ontario, and the Netherlands with strong leasing spreads.
ESG Achievements
Ranked #1 by GRESB among North American industrial REITs. Solar PV systems capacity reached over 45 megawatts, with 44% of properties achieving green building certification.
Refinancing Success
Completed $800 million of bond offerings, extending the weighted average debt term to maturity to 4.6 years and maintaining a stable interest expense outlook.
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TSE:GRT.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:GRT.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | C$73.22 | C$74.80 | +2.16% |
| Aug 07, 2024 | C$71.76 | C$69.66 | -2.93% |
| May 08, 2024 | C$68.84 | C$69.00 | +0.23% |
| Feb 28, 2024 | C$67.82 | C$69.39 | +2.31% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Granite Real Estate (TSE:GRT.UN) report earnings?
Granite Real Estate (TSE:GRT.UN) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Granite Real Estate (TSE:GRT.UN) earnings time?
Granite Real Estate (TSE:GRT.UN) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:GRT.UN EPS forecast?
Currently, no data Available
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