Canada's Granite REIT Q4 net income rises on property gains
Overview
Canada-based REIT's Q4 revenue rose, driven by rent adjustments and property acquisitions
Net income for Q4 increased due to favorable fair value adjustments
Company appointed two new trustees to its board
Outlook
Granite forecasts 2026 FFO per unit between $6.25 and $6.40
Granite expects 2026 AFFO per unit between $5.40 and $5.55
Company forecasts 2026 constant currency same property NOI – cash basis at 5.5% to 6.5%
Result Drivers
RENT ADJUSTMENTS AND ACQUISITIONS - Increase in net operating income driven by contractual rent adjustments, CPI-based increases, and acquisitions of properties in the U.S. and U.K.
FAIR VALUE GAINS - Significant fair value gains on investment properties due to increased market rents and positive leasing activity
FAVORABLE FX IMPACT - Foreign exchange fluctuations positively impacted funds from operations
Company press release: ID:nBw3pH2Rba
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | C$161.80 mln | C$157.06 mln (1 Analyst) |
Q4 Net Income |
| C$135.40 mln |
|
Q4 Adjusted FFO |
| C$79.30 mln |
|
Q4 FFO |
| C$96.60 mln |
|
Q4 Operating Income |
| C$133.30 mln |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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