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How does GRT-UN.TO make money? Does GRT-UN.TO have pricing power? What's the Earnings Whisper? Will GRT-UN.TO profit more as the business scales? What is GRT-UN.TO's management track record? Is GRT-UN.TO's current price justified?

Granite Real Estate Investment Trust

CAD 85.39 +$3.19 (+3.88%)

TSX · 14 Sep 2026 15:16 UTC

Previous Close

CAD 85.18

Day Range

CAD 84.63CAD 85.93

Year Range

CAD 75CAD 101.5

Market Cap

5.18B

AVG Volume

84.08K

Trailing/Forward PE

14.23/12.8

PEG ratio

1.03

Dividend Yield

4.11%

Next Earnings Date

2026-11-04

Primary Exchange

Toronto Stock Exchange

Revenue (CAD)

GRT-UN.TO Revenue (CAD) by quarter
Period	Revenue (CAD)
26 Q2	165.09M
26 Q1	165.83M
25 Q4	161.76M
25 Q3	153.01M
25 Q2	149.26M
25 Q1	154.66M
24 Q4	148.04M
24 Q3	141.89M
24 Q2	140.26M
24 Q1	138.95M

Net Income (CAD)

GRT-UN.TO Net Income (CAD) by quarter
Period	Net Income (CAD)
26 Q2	70.02M
26 Q1	91.25M
25 Q4	135.48M
25 Q3	68.01M
25 Q2	95M
25 Q1	43.85M
24 Q4	83.76M
24 Q3	111.59M
24 Q2	76.16M
24 Q1	89.1M

Operating Income (CAD)

GRT-UN.TO Operating Income (CAD) by quarter
Period	Operating Income (CAD)
26 Q2	115.59M
26 Q1	122.29M
25 Q4	120.87M
25 Q3	113.03M
25 Q2	113.06M
25 Q1	116.87M
24 Q4	114.22M
24 Q3	106.72M
24 Q2	109.88M
24 Q1	102.56M

EBITDA (CAD)

GRT-UN.TO EBITDA (CAD) by quarter
Period	EBITDA (CAD)
26 Q2	103.63M
26 Q1	126.62M
25 Q4	180.51M
25 Q3	77.66M
25 Q2	129.06M
25 Q1	69.06M
24 Q4	112.64M
24 Q3	145.57M
24 Q2	106.02M
24 Q1	102.86M

Cash Flows (CAD)

GRT-UN.TO Cash Flows (CAD) by quarter
Period	Cash Flows (CAD)
26 Q2	77.11M
26 Q1	97.56M
25 Q4	84.31M
25 Q3	121.93M
25 Q2	72.77M
25 Q1	108.92M
24 Q4	71.2M
24 Q3	106.63M
24 Q2	76.73M
24 Q1	83.45M

EPS (CAD)

GRT-UN.TO EPS (CAD) by quarter
Period	EPS (CAD)
26 Q2	1.14
26 Q1	1.5
25 Q4	2.22
25 Q3	1.11
25 Q2	1.55
25 Q1	0.7
24 Q4	1.33
24 Q3	1.77
24 Q2	1.21
24 Q1	1.4

Expenses (CAD)

GRT-UN.TO Expenses (CAD) by quarter
Period	Expenses (CAD)
26 Q2	104K
26 Q1	11.65M
25 Q4	13.19M
25 Q3	14.18M
25 Q2	9.98M
25 Q1	116.88M
24 Q4	7.18M
24 Q3	12.53M
24 Q2	7.44M
24 Q1	9.31M

Cash & Debt (CAD)

GRT-UN.TO Cash & Debt (CAD) by quarter
Period	Cash & Debt (CAD)
26 Q2	94.59M
26 Q1	94.22M
25 Q4	139.59M
25 Q3	127.93M
25 Q2	86.42M
25 Q1	123.06M
24 Q4	126.17M
24 Q3	133.49M
24 Q2	101.26M
24 Q1	139.94M

Debt ratios

GRT-UN.TO Debt ratios by quarter
Period	Debt ratios
26 Q2	6.06
26 Q1	5.86
25 Q4	7.02
25 Q3	8.27
25 Q2	6.85
25 Q1	6.93
24 Q4	6.39
24 Q3	6.52
24 Q2	7.33
24 Q1	7.34

Margins

GRT-UN.TO Margins by quarter
Period	Margins
26 Q2	81.7%
26 Q1	80.97%
25 Q4	82.03%
25 Q3	83.1%
25 Q2	82.67%
25 Q1	81.24%
24 Q4	81.83%
24 Q3	84.26%
24 Q2	83.01%
24 Q1	82.2%

Return on Capital

GRT-UN.TO Return on Capital by quarter
Period	Return on Capital
26 Q2	1.21%
26 Q1	1.62%
25 Q4	2.46%
25 Q3	1.23%
25 Q2	1.76%
25 Q1	0.77%
24 Q4	1.46%
24 Q3	2.05%
24 Q2	1.4%
24 Q1	1.65%

Shares Outstanding

GRT-UN.TO Shares Outstanding by quarter
Period	Shares Outstanding
26 Q2	60.9M
26 Q1	60.64M
25 Q4	60.6M
25 Q3	61M
25 Q2	61M
25 Q1	62.3M
24 Q4	62.7M
24 Q3	62.7M
24 Q2	63M
24 Q1	63.4M

Dividends (CAD)

GRT-UN.TO Dividends (CAD) by quarter
Period	Dividends (CAD)
Aug 26	0.3
Jul 26	0.3
Jun 26	0.3
May 26	0.3
Apr 26	0.3
Mar 26	0.3
Feb 26	0.3
Jan 26	0.3
Dec 25	0.3
Nov 25	0.28

Book Value Per Share (CAD)

GRT-UN.TO Book Value Per Share (CAD) by quarter
Period	Book Value Per Share (CAD)
26 Q2	95.01
26 Q1	92.93
25 Q4	91.06
25 Q3	90.41
25 Q2	88.54
25 Q1	91.09
24 Q4	91.49
24 Q3	86.97
24 Q2	86.29
24 Q1	85.14

Total Assets (CAD)

GRT-UN.TO Total Assets (CAD) by quarter
Period	Total Assets (CAD)
26 Q2	9.79B
26 Q1	9.67B
25 Q4	9.73B
25 Q3	9.63B
25 Q2	9.47B
25 Q1	9.63B
24 Q4	9.62B
24 Q3	9.32B
24 Q2	9.27B
24 Q1	9.23B

PE Ratio

GRT-UN.TO PE Ratio by quarter
Period	PE Ratio
Sep 26	13.25
Sep 26	13.78
Aug 26	13.83
Aug 26	13.83
Aug 26	14.18
Aug 26	14.32
Jul 26	14.97
Jul 26	15.2
Jul 26	15.5
Jul 26	14.96
Jul 26	15.13
Jun 26	17.07
Jun 26	16.62
Jun 26	16.72
Jun 26	17.16
May 26	17.06
May 26	17
May 26	16.28
May 26	16.55
May 26	16.5
Apr 26	16.13
Apr 26	16.24
Apr 26	15.8
Apr 26	15.07
Mar 26	17.21
Mar 26	16.81
Mar 26	18.19
Mar 26	18.12
Feb 26	19.3
Feb 26	18.48
Feb 26	18.62
Feb 26	18.59
Jan 26	18.44
Jan 26	18.65
Jan 26	19.07
Jan 26	18.07
Jan 26	17.25
Dec 25	16.96
Dec 25	17.04
Dec 25	16.32
Dec 25	15.99
Nov 25	16.08
Nov 25	16.05
Nov 25	16.18
Nov 25	16.26
Oct 25	14.39
Oct 25	14.6
Oct 25	14.71
Oct 25	13.91
Oct 25	14.43
Sep 25	15.29
Sep 25	15.11
Sep 25	15.4
Sep 25	15.55
Aug 25	15.46
Aug 25	16.17
Aug 25	15.66
Aug 25	15.11
Aug 25	14.59
Jul 25	14.53
Jul 25	14.25
Jul 25	14.14
Jul 25	14.02
Jun 25	12.02
Jun 25	12
Jun 25	12.24
Jun 25	12.27
May 25	12.22
May 25	11.69
May 25	11.73
May 25	11.29
May 25	11.05
Apr 25	10.97
Apr 25	10.99
Apr 25	10.23
Apr 25	10.76
Mar 25	13.63
Mar 25	13.78
Mar 25	13.86
Mar 25	13.95
Feb 25	13.54
Feb 25	13.83
Feb 25	13.84
Feb 25	14.13
Jan 25	14.28
Jan 25	14.31
Jan 25	13.86
Jan 25	13.9
Jan 25	14.43
Dec 24	19.12
Dec 24	19.58
Dec 24	19.94
Dec 24	20.17
Nov 24	20.84
Nov 24	20.28
Nov 24	20.67
Nov 24	20.86
Nov 24	20.44
Oct 24	20.96
Oct 24	21.11

Free Cash Flow Yield

GRT-UN.TO Free Cash Flow Yield by quarter
Period	Free Cash Flow Yield
Sep 26	7.29%
Sep 26	7.01%
Aug 26	6.99%
Aug 26	6.99%
Aug 26	6.81%
Aug 26	6.75%
Jul 26	6.45%
Jul 26	6.36%
Jul 26	6.23%
Jul 26	6.46%
Jul 26	6.39%
Jun 26	6.64%
Jun 26	6.82%
Jun 26	6.78%
Jun 26	6.6%
May 26	6.64%
May 26	6.67%
May 26	6.96%
May 26	6.85%
May 26	6.87%
Apr 26	7.02%
Apr 26	6.98%
Apr 26	7.17%
Apr 26	7.52%
Mar 26	7.5%
Mar 26	7.67%
Mar 26	7.09%
Mar 26	7.12%
Feb 26	6.68%
Feb 26	6.98%
Feb 26	6.93%
Feb 26	6.94%
Jan 26	6.99%
Jan 26	6.91%
Jan 26	6.76%
Jan 26	7.14%
Jan 26	7.48%
Dec 25	7.61%
Dec 25	7.57%
Dec 25	7.9%
Dec 25	8.06%
Nov 25	8.02%
Nov 25	8.04%
Nov 25	7.97%
Nov 25	7.93%
Oct 25	7.48%
Oct 25	7.37%
Oct 25	7.31%
Oct 25	7.73%
Oct 25	7.46%
Sep 25	7.54%
Sep 25	7.63%
Sep 25	7.49%
Sep 25	7.41%
Aug 25	7.46%
Aug 25	7.13%
Aug 25	7.36%
Aug 25	7.63%
Aug 25	7.9%
Jul 25	7.93%
Jul 25	8.09%
Jul 25	8.15%
Jul 25	8.22%
Jun 25	7.8%
Jun 25	7.81%
Jun 25	7.66%
Jun 25	7.64%
May 25	7.67%
May 25	8.02%
May 25	7.99%
May 25	8.3%
May 25	8.48%
Apr 25	8.54%
Apr 25	8.53%
Apr 25	9.16%
Apr 25	8.71%
Mar 25	8.16%
Mar 25	8.07%
Mar 25	8.03%
Mar 25	7.97%
Feb 25	8.21%
Feb 25	8.04%
Feb 25	8.04%
Feb 25	7.87%
Jan 25	7.79%
Jan 25	7.77%
Jan 25	8.02%
Jan 25	8%
Jan 25	7.71%
Dec 24	7.32%
Dec 24	7.14%
Dec 24	7.01%
Dec 24	6.93%
Nov 24	6.71%
Nov 24	6.9%
Nov 24	6.77%
Nov 24	6.71%
Nov 24	6.84%
Oct 24	6.67%
Oct 24	6.63%

Price to Sales

GRT-UN.TO Price to Sales by quarter
Period	Price to Sales
Sep 26	8.2
Sep 26	8.53
Aug 26	8.56
Aug 26	8.56
Aug 26	8.77
Aug 26	8.86
Jul 26	9.26
Jul 26	9.4
Jul 26	9.59
Jul 26	9.25
Jul 26	9.36
Jun 26	9.44
Jun 26	9.2
Jun 26	9.25
Jun 26	9.5
May 26	9.44
May 26	9.41
May 26	9.01
May 26	9.16
May 26	9.13
Apr 26	8.93
Apr 26	8.99
Apr 26	8.74
Apr 26	8.34
Mar 26	8.27
Mar 26	8.08
Mar 26	8.74
Mar 26	8.71
Feb 26	9.27
Feb 26	8.88
Feb 26	8.94
Feb 26	8.93
Jan 26	8.86
Jan 26	8.96
Jan 26	9.16
Jan 26	8.68
Jan 26	8.29
Dec 25	8.15
Dec 25	8.18
Dec 25	7.84
Dec 25	7.68
Nov 25	7.72
Nov 25	7.71
Nov 25	7.77
Nov 25	7.81
Oct 25	8.1
Oct 25	8.22
Oct 25	8.28
Oct 25	7.83
Oct 25	8.12
Sep 25	8.25
Sep 25	8.15
Sep 25	8.3
Sep 25	8.39
Aug 25	8.33
Aug 25	8.72
Aug 25	8.44
Aug 25	8.15
Aug 25	7.87
Jul 25	7.83
Jul 25	7.68
Jul 25	7.62
Jul 25	7.56
Jun 25	7.62
Jun 25	7.6
Jun 25	7.75
Jun 25	7.78
May 25	7.74
May 25	7.41
May 25	7.44
May 25	7.16
May 25	7
Apr 25	6.95
Apr 25	6.96
Apr 25	6.48
Apr 25	6.82
Mar 25	7.62
Mar 25	7.71
Mar 25	7.75
Mar 25	7.8
Feb 25	7.57
Feb 25	7.73
Feb 25	7.74
Feb 25	7.91
Jan 25	7.99
Jan 25	8
Jan 25	7.75
Jan 25	7.78
Jan 25	8.07
Dec 24	8.13
Dec 24	8.32
Dec 24	8.48
Dec 24	8.57
Nov 24	8.86
Nov 24	8.62
Nov 24	8.78
Nov 24	8.86
Nov 24	8.69
Oct 24	8.91
Oct 24	8.97

EV/EBITDA

GRT-UN.TO EV/EBITDA by quarter
Period	EV/EBITDA
Sep 26	15.92
Sep 26	16.32
Aug 26	16.35
Aug 26	16.35
Aug 26	16.62
Aug 26	16.72
Jul 26	17.22
Jul 26	17.39
Jul 26	17.62
Jul 26	17.21
Jul 26	17.34
Jun 26	19.83
Jun 26	19.49
Jun 26	19.57
Jun 26	19.9
May 26	19.82
May 26	19.78
May 26	19.24
May 26	19.44
May 26	19.4
Apr 26	19.13
Apr 26	19.21
Apr 26	18.88
Apr 26	18.33
Mar 26	21.15
Mar 26	20.85
Mar 26	21.88
Mar 26	21.83
Feb 26	22.72
Feb 26	22.1
Feb 26	22.2
Feb 26	22.18
Jan 26	22.07
Jan 26	22.23
Jan 26	22.54
Jan 26	21.79
Jan 26	21.18
Dec 25	20.96
Dec 25	21.02
Dec 25	20.48
Dec 25	20.24
Nov 25	20.3
Nov 25	20.28
Nov 25	20.38
Nov 25	20.44
Oct 25	17.39
Oct 25	17.54
Oct 25	17.62
Oct 25	17.03
Oct 25	17.41
Sep 25	18.06
Sep 25	17.93
Sep 25	18.14
Sep 25	18.25
Aug 25	18.18
Aug 25	18.7
Aug 25	18.33
Aug 25	17.93
Aug 25	17.55
Jul 25	17.5
Jul 25	17.3
Jul 25	17.22
Jul 25	17.14
Jun 25	15.67
Jun 25	15.66
Jun 25	15.84
Jun 25	15.87
May 25	15.83
May 25	15.42
May 25	15.45
May 25	15.11
May 25	14.93
Apr 25	14.86
Apr 25	14.88
Apr 25	14.3
Apr 25	14.7
Mar 25	15.68
Mar 25	15.78
Mar 25	15.83
Mar 25	15.89
Feb 25	15.62
Feb 25	15.81
Feb 25	15.82
Feb 25	16.02
Jan 25	16.12
Jan 25	16.14
Jan 25	15.83
Jan 25	15.86
Jan 25	16.22
Dec 24	17.95
Dec 24	18.21
Dec 24	18.41
Dec 24	18.54
Nov 24	18.91
Nov 24	18.59
Nov 24	18.81
Nov 24	18.92
Nov 24	18.69
Oct 24	18.97
Oct 24	19.06

Price/Operating Cashflow

GRT-UN.TO Price/Operating Cashflow by quarter
Period	Price/Operating Cashflow
Sep 26	13.71
Sep 26	14.25
Aug 26	14.31
Aug 26	14.31
Aug 26	14.67
Aug 26	14.81
Jul 26	15.49
Jul 26	15.72
Jul 26	16.03
Jul 26	15.47
Jul 26	15.65
Jun 26	15.06
Jun 26	14.66
Jun 26	14.75
Jun 26	15.14
May 26	15.05
May 26	15
May 26	14.36
May 26	14.6
May 26	14.55
Apr 26	14.23
Apr 26	14.33
Apr 26	13.93
Apr 26	13.29
Mar 26	13.34
Mar 26	13.03
Mar 26	14.1
Mar 26	14.05
Feb 26	14.96
Feb 26	14.32
Feb 26	14.43
Feb 26	14.41
Jan 26	14.29
Jan 26	14.46
Jan 26	14.78
Jan 26	14
Jan 26	13.37
Dec 25	13.14
Dec 25	13.2
Dec 25	12.65
Dec 25	12.4
Nov 25	12.46
Nov 25	12.44
Nov 25	12.54
Nov 25	12.6
Oct 25	13.37
Oct 25	13.57
Oct 25	13.67
Oct 25	12.92
Oct 25	13.41
Sep 25	13.27
Sep 25	13.11
Sep 25	13.35
Sep 25	13.49
Aug 25	13.41
Aug 25	14.03
Aug 25	13.58
Aug 25	13.11
Aug 25	12.65
Jul 25	12.6
Jul 25	12.36
Jul 25	12.26
Jul 25	12.16
Jun 25	12.8
Jun 25	12.78
Jun 25	13.03
Jun 25	13.07
May 25	13.02
May 25	12.45
May 25	12.5
May 25	12.03
May 25	11.77
Apr 25	11.68
Apr 25	11.7
Apr 25	10.9
Apr 25	11.46
Mar 25	12.23
Mar 25	12.37
Mar 25	12.43
Mar 25	12.52
Feb 25	12.15
Feb 25	12.41
Feb 25	12.42
Feb 25	12.68
Jan 25	12.81
Jan 25	12.84
Jan 25	12.44
Jan 25	12.47
Jan 25	12.95
Dec 24	13.64
Dec 24	13.97
Dec 24	14.23
Dec 24	14.39
Nov 24	14.87
Nov 24	14.46
Nov 24	14.75
Nov 24	14.88
Nov 24	14.58
Oct 24	14.95
Oct 24	15.06

Price to Book

GRT-UN.TO Price to Book by quarter
Period	Price to Book
Sep 26	0.92
Sep 26	0.95
Aug 26	0.96
Aug 26	0.96
Aug 26	0.98
Aug 26	0.99
Jul 26	1.04
Jul 26	1.05
Jul 26	1.07
Jul 26	1.03
Jul 26	1.05
Jun 26	1.06
Jun 26	1.03
Jun 26	1.04
Jun 26	1.06
May 26	1.06
May 26	1.05
May 26	1.01
May 26	1.03
May 26	1.02
Apr 26	1
Apr 26	1.01
Apr 26	0.98
Apr 26	0.94
Mar 26	0.91
Mar 26	0.89
Mar 26	0.96
Mar 26	0.95
Feb 26	1.02
Feb 26	0.97
Feb 26	0.98
Feb 26	0.98
Jan 26	0.97
Jan 26	0.98
Jan 26	1
Jan 26	0.95
Jan 26	0.91
Dec 25	0.89
Dec 25	0.9
Dec 25	0.86
Dec 25	0.84
Nov 25	0.85
Nov 25	0.85
Nov 25	0.85
Nov 25	0.86
Oct 25	0.89
Oct 25	0.9
Oct 25	0.91
Oct 25	0.86
Oct 25	0.89
Sep 25	0.85
Sep 25	0.84
Sep 25	0.86
Sep 25	0.86
Aug 25	0.86
Aug 25	0.9
Aug 25	0.87
Aug 25	0.84
Aug 25	0.81
Jul 25	0.81
Jul 25	0.79
Jul 25	0.79
Jul 25	0.78
Jun 25	0.76
Jun 25	0.75
Jun 25	0.77
Jun 25	0.77
May 25	0.77
May 25	0.73
May 25	0.74
May 25	0.71
May 25	0.69
Apr 25	0.69
Apr 25	0.69
Apr 25	0.64
Apr 25	0.68
Mar 25	0.77
Mar 25	0.78
Mar 25	0.78
Mar 25	0.79
Feb 25	0.77
Feb 25	0.78
Feb 25	0.78
Feb 25	0.8
Jan 25	0.81
Jan 25	0.81
Jan 25	0.78
Jan 25	0.79
Jan 25	0.82
Dec 24	0.81
Dec 24	0.83
Dec 24	0.84
Dec 24	0.85
Nov 24	0.88
Nov 24	0.86
Nov 24	0.87
Nov 24	0.88
Nov 24	0.86
Oct 24	0.89
Oct 24	0.89

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Granite Real Estate Investment Trust

Video analysis: GRT-UN.TO

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