Granite REIT’s Earnings Call: Strong Growth and Positive Outlook
Granite Real Estate's Q3 earnings call revealed strong financial health and growth, with FFO per unit rising 6.5% from Q2 to $1.48. The company executed over 400,000 square feet of new leases and increased its distribution by $0.15. Despite challenges like higher G&A expenses and a decline in the Greater Toronto Area's rents, Granite raised its 2025 guidance, projecting FFO per unit between $5.83 and $5.90. Overall, the call indicated a positive outlook driven by robust leasing activity and favorable market conditions.
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