Granite Real Estate Investment Trust (GRTUF) - Net Assets
Based on the latest financial reports, Granite Real Estate Investment Trust (GRTUF) has net assets worth $5.64 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($9.67 Billion) and total liabilities ($4.04 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Read Granite Real Estate Investment Trust total liabilities for a breakdown of total debt and financial obligations.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $5.64 Billion |
| % of Total Assets | 58.27% |
| Annual Growth Rate | 0.91% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 5.13 |
Granite Real Estate Investment Trust - Net Assets Trend (2021–2025)
This chart illustrates how Granite Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Also explore GRTUF total asset value for the complete picture of this company's asset base.
Annual Net Assets for Granite Real Estate Investment Trust (2021–2025)
The table below shows the annual net assets of Granite Real Estate Investment Trust from 2021 to 2025. For live valuation and market cap data, see GRTUF company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $5.52 Billion | -3.81% |
| 2024-12-31 | $5.74 Billion | +8.57% |
| 2023-12-31 | $5.28 Billion | -3.59% |
| 2022-12-31 | $5.48 Billion | +2.98% |
| 2021-12-31 | $5.32 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Granite Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 9.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.92 Billion | 34.82% |
| Other Components | $3.60 Billion | 65.18% |
| Total Equity | $5.52 Billion | 100.00% |
Granite Real Estate Investment Trust Competitors by Market Cap
The table below lists competitors of Granite Real Estate Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Grand Canyon Education Inc
NASDAQ:LOPE
|
$4.16 Billion |
|
Henan Zhongfu Industrial Co Ltd
SHG:600595
|
$4.16 Billion |
|
Science Applications International Corporation Common Stock
NYSE:SAIC
|
$4.16 Billion |
|
Nordic Semiconductor ASA
OL:NOD
|
$4.16 Billion |
|
Granite Real Estate Investment Trust
TO:GRT-UN
|
$4.16 Billion |
|
Gland Pharma Limited
NSE:GLAND
|
$4.15 Billion |
|
Crescent Energy Co
NYSE:CRGY
|
$4.15 Billion |
|
Materion Corporation
NYSE:MTRN
|
$4.15 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Granite Real Estate Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,736,629,000 to 5,518,152,000, a change of -218,477,000 (-3.8%).
- Net income of 342,340,000 contributed positively to equity growth.
- Dividend payments of 208,137,000 reduced retained earnings.
- Share repurchases of 144,648,000 reduced equity.
- Other factors decreased equity by 208,032,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $342.34 Million | +6.2% |
| Dividends Paid | $208.14 Million | -3.77% |
| Share Repurchases | $144.65 Million | -2.62% |
| Other Changes | $-208.03 Million | -3.77% |
| Total Change | $- | -3.81% |
Book Value vs Market Value Analysis
This analysis compares Granite Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.75x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | $81.00 | $68.45 | x |
| 2022-12-31 | $86.02 | $68.45 | x |
| 2023-12-31 | $83.40 | $68.45 | x |
| 2024-12-31 | $91.46 | $68.45 | x |
| 2025-12-31 | $91.06 | $68.45 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Granite Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.20%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 55.33%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.76x
- Recent ROE (6.20%) is below the historical average (8.51%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 24.62% | 332.90% | 0.05x | 1.61x | $777.78 Million |
| 2022 | 2.84% | 34.19% | 0.05x | 1.69x | $-392.27 Million |
| 2023 | 2.59% | 26.22% | 0.06x | 1.72x | $-391.70 Million |
| 2024 | 6.29% | 63.36% | 0.06x | 1.68x | $-213.05 Million |
| 2025 | 6.20% | 55.33% | 0.06x | 1.76x | $-209.48 Million |
Industry Comparison
This section compares Granite Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Industrial industry.
Industry Context
- Industry: REIT - Industrial
- Average net assets among peers: $3,731,247,000
- Average return on equity (ROE) among peers: 5.96%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Granite Real Estate Investment Trust (GRTUF) | $5.64 Billion | 24.62% | 0.72x | $4.16 Billion |
| Americold Realty Trust (COLD) | $1.83 Billion | 2.63% | 1.28x | $4.12 Billion |
| CubeSmart (CUBE) | $2.90 Billion | 10.05% | 1.18x | $9.11 Billion |
| EastGroup Properties Inc (EGP) | $904.70 Million | 9.78% | 1.36x | $10.96 Billion |
| Extra Space Storage Inc (EXR) | $15.41 Billion | 5.21% | 0.78x | $30.40 Billion |
| First Industrial Realty Trust Inc (FR) | $1.95 Billion | 10.35% | 0.95x | $8.28 Billion |
| Innovative Industrial Properties Inc (IIPR) | $1.94 Billion | 8.35% | 0.23x | $1.43 Billion |
| Industrial Logistics Properties Trust (ILPT) | $1.00 Billion | 8.18% | 0.91x | $543.32 Million |
| Lineage, Inc. Common Stock (LINE) | $6.11 Billion | -1.03% | 2.04x | $9.14 Billion |
| LXP Industrial Trust (LXP) | $1.54 Billion | 0.11% | 1.45x | $2.82 Billion |
About Granite Real Estate Investment Trust
Granite Real Estate Investment Trust is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area. Granite Real Estate Investment Trust was incorporated in 2003 in Ontario, Canada.