Fact based stock research
Granite REIT (TSX:GRT.UN)

CA3874371147

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Granite REIT stock research in summary

granitereit.com

ANALYSIS: With an Obermatt Combined Rank of 88 (better than 88% compared with investment alternatives), Granite REIT (REITs: Industrials, Canada) shares have much better financial characteristics than comparable stocks. Shares of Granite REIT are a good value (attractively priced) with a consolidated Value Rank of 61 (better than 61% of alternatives), show above-average growth (Growth Rank of 57), and are safely financed (Safety Rank of 53), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 88, is a strong buy recommendation based on Granite REIT's financial characteristics. As the company Granite REIT's key financial metrics all exhibit excellent performance, such as good value (Obermatt Value Rank of 61), above-average growth (Obermatt Growth Rank of 57), and indicate that the company is safely financed (Obermatt Safety Rank of 53), it is a solid stock investment where the risk of paying too much for the share is limited, unless the company has a bleak future. Such good financial performance can indicate that the company's future might actually be challenging, as it may be difficult to maintain the good performance. If they are safely financed and have been growing above average, and are still a good value, it means that the market is keeping prices low, for a reason which may become clearer over time. We recommend evaluating the future of Granite REIT. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	61
Growth Rank	57
Safety Rank	53
Combined Rank	88

Country	Canada
Industry	REITs: Industrials
Index	TSX Composite
Size class	Medium

27-Feb-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Granite REIT

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	56	57	61	61
GROWTH
GROWTH	63	53	51	57
SAFETY
SAFETY	85	62	59	53
SENTIMENT
SENTIMENT	91	87	92	^new
360° VIEW
360° VIEW	97	82	96	^new

Most recent update of the stock research: 27-Feb-2025. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Granite REIT is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	56	57	61	61
GROWTH
GROWTH	63	53	51	57
SAFETY
SAFETY	85	62	59	53
COMBINED
COMBINED	85	73	84	88

Last update of combined financial performance: 27-Feb-2025. Stock analysis on combined financial performance: The higher the rank of Granite REIT the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 61 (better than 61% compared with alternatives), Granite REIT shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Granite REIT. Price-to-Profit (also referred to as price to earnings, P/E ratio) is 64 which means that the stock price compared with what market professionals expect for future profits is lower than for 64% of comparable companies, indicating a good value concerning Granite REIT's profit levels. The same is valid for the expected Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 76, and for Dividend Yield with a Dividend Yield Rank of 56. But, compared with other companies in the same industry, the stock price is higher than average as regards expected revenues; only 57% of all competitors have an even higher stock price as regards to sales revenues (a Price-to-Sales Rank of 43). Profits, the level of invested capital, and dividend policy suggest that this stock is attractively priced. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 61, is a buy recommendation based on Granite REIT's stock price compared with the company's operational size and dividend yields. Since it is on the expensive side for Price-to-Sales, it may mean that Granite REIT has pricing power in its distribution market because it can charge higher prices than its competitors. If this is the case, all four value indicators are positive signals for purchasing Granite REIT shares. 9. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	26	37	46	43
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	55	56	66	64
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	60	83	76	76
DIVIDEND YIELD
DIVIDEND YIELD	51	54	56	56
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	56	57	61	61

Last update of Value Rank: 27-Feb-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Granite REIT; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 57 (better than 57% compared with alternatives), Granite REIT shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with three out of four metrics below average for Granite REIT. While Profit Growth has a good rank of 98, as professionals currently expect the company to grow its profits more than 98% of its competitors, all other growth indicators are below market averages. Sales Growth has a rank of 49, which means that currently professionals expect the company to grow less than 51% of its competitors, while Capital Growth has a rank of 26 and Stock Returns have been below market median, with a rank of 24 (76% of alternative investments were better). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 57, is a buy recommendation for growth and momentum investors. While revenue growth and capital growth are good growth momentum indicators, profit is less reliable, because profits may increase due to cost-cutting measures which typically indicate negative growth momentum. "You can save a dollar only once" is the saying about such situations. Growth Investors should look at company priorities closely if they are interested in growth, because the increase in profits is not usually an indicator of growth, and stock prices have been below market, too. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	37	54	45	49
PROFIT GROWTH
PROFIT GROWTH	79	63	96	98
CAPITAL GROWTH
CAPITAL GROWTH	45	45	32	26
STOCK RETURNS
STOCK RETURNS	63	43	25	24
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	63	53	51	57

Last update of Growth Rank: 27-Feb-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Granite REIT.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 53 (better than 53% compared with alternatives), the company Granite REIT has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Granite REIT is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Granite REIT. Leverage is at a rank of 69, meaning the company has a below-average debt-to-equity ratio. It has less debt than 69% of its competitors. Liquidity is also good at a rank of 71, meaning the company generates more profit to service its debt than 71% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 11, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 89% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 53 (better than 53% compared with alternatives), Granite REIT has a financing structure that is safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Granite REIT. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Granite REIT and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	68	66	69	69
REFINANCING
REFINANCING	84	18	11	11
LIQUIDITY
LIQUIDITY	85	74	72	71
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	85	62	59	53

Last update of Safety Rank: 27-Feb-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Granite REIT and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	97	89	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	89	60	82	^new
MARKET PULSE
MARKET PULSE	60	67	63	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	91	87	92	^new

Last update of Sentiment Rank: 27-Feb-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Granite REIT.
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