Granite Real Estate Investment Trust
BBG000PY5Y89
ISIN null / Valor 20354432
Granite Real Estate Investment Trust
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About company
Granite Real Estate Investment Trust is a Canadian-based real estate investment trust specializing in the acquisition, development, ownership, and management of logistics, warehouse, and industrial properties. The company operates across North America and Europe, focusing on high-quality properties that support the supply chain and distribution needs of various industries. Granite's portfolio includes a diverse range of facilities designed to meet the demands of modern logistics and industrial operations, providing essential infrastructure for businesses in these regions.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (06.08.2024):
Revenue Growth
Granite Real Estate Investment Trust reported a revenue of $138.9 million for the first quarter of 2024, an increase from $129.6 million in the same quarter of 2023. This growth reflects the Trust's successful efforts in expanding its portfolio and optimizing its property management strategies.
Net Operating Income
For the three months ended March 31, 2024, Granite Real Estate Investment Trust achieved a net operating income (NOI) of $114.5 million, up from $107.4 million in the first quarter of 2023. This improvement in NOI underscores the Trust's ability to generate higher rental income and maintain cost efficiencies.
Funds From Operations
Granite Real Estate Investment Trust's funds from operations (FFO) for Q1 2024 were $82.4 million, compared to $79.6 million in Q1 2023. The increase in FFO indicates the Trust's enhanced operational performance and effective management of its real estate assets.
Adjusted Funds From Operations
In the first quarter of 2024, Granite Real Estate Investment Trust reported adjusted funds from operations (AFFO) of $77.9 million, up from $75.1 million in the same period of the previous year. This rise in AFFO highlights the Trust's strong cash flow generation and its ability to support ongoing distributions to unitholders.
Monthly Distributions
Granite Real Estate Investment Trust paid monthly distributions totaling $52.3 million in Q1 2024, slightly higher than the $51.0 million distributed in Q1 2023. The Trust's consistent distribution payments reflect its commitment to providing stable returns to its investors.
Summarized from source with an LLMView SourceKey figures
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