Granite REIT Q3 revenue slightly beats expectations
Overview
Granite REIT Q3 revenue slightly beats analyst expectations
Net operating income for Q3 rises
Granite announces 4.4% distribution increase effective December 2025
Outlook
Granite REIT raises 2025 FFO per unit forecast to C$5.83-C$5.90
Granite REIT increases 2025 AFFO per unit forecast to C$5.03-C$5.10
Company adjusts foreign exchange rate assumptions for Q4 2025
Result Drivers
RENT ADJUSTMENTS AND ACQUISITIONS - Increase in NOI driven by contractual rent adjustments, CPI-based increases, and acquisition of properties in the US
FAVORABLE FX IMPACT - Weaker Canadian dollar against Euro and USD positively impacted FFO and AFFO by $0.04 per unit
OCCUPANCY IMPROVEMENT - In-place occupancy increased to 96.8% from 95.8% as of June 30, 2025
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | C$153 mln | C$152 mln (2 Analysts) |
Q3 Net Income |
| C$68 mln |
|
Q3 Adjusted FFO |
| C$77 mln |
|
Q3 FFO |
| C$89.90 mln |
|
Q3 Operating Income |
| C$127.10 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Press Release: ID:nBw8KSNgna
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