Granite Real Estate Investment Trust (GRT-UN) - Net Assets

Latest as of September 2025: CA$5.52 Billion CAD ≈ $3.99 Billion USD

Based on the latest financial reports, Granite Real Estate Investment Trust (GRT-UN) has net assets worth CA$5.52 Billion CAD (≈ $3.99 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.63 Billion ≈ $6.97 Billion USD) and total liabilities (CA$4.12 Billion ≈ $2.98 Billion USD). 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.

Key Net Assets Metrics

Metric Value
Current Net Assets CA$5.52 Billion
% of Total Assets 57.26%
Annual Growth Rate 4.59%
5-Year Change 46.26%
10-Year Change 208.62%
Growth Volatility 23.96

Granite Real Estate Investment Trust - Net Assets Trend (2000–2024)

This chart illustrates how Granite Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Granite Real Estate Investment Trust (2000–2024)

The table below shows the annual net assets of Granite Real Estate Investment Trust from 2000 to 2024.

Year Net Assets Change
2024-12-31 CA$5.74 Billion
≈ $4.15 Billion		 +8.57%
2023-12-31 CA$5.28 Billion
≈ $3.82 Billion		 -3.59%
2022-12-31 CA$5.48 Billion
≈ $3.96 Billion		 +2.98%
2021-12-31 CA$5.32 Billion
≈ $3.85 Billion		 +35.68%
2020-12-31 CA$3.92 Billion
≈ $2.84 Billion		 +24.59%
2019-12-31 CA$3.15 Billion
≈ $2.28 Billion		 +26.08%
2018-12-31 CA$2.50 Billion
≈ $1.81 Billion		 +16.80%
2017-12-31 CA$2.14 Billion
≈ $1.55 Billion		 +9.65%
2016-12-31 CA$1.95 Billion
≈ $1.41 Billion		 +4.89%
2015-12-31 CA$1.86 Billion
≈ $1.34 Billion		 +13.60%
2014-12-31 CA$1.64 Billion
≈ $1.18 Billion		 -2.40%
2013-12-31 CA$1.68 Billion
≈ $1.21 Billion		 +91.16%
2012-12-31 CA$877.00 Million
≈ $634.41 Million		 -3.92%
2011-12-31 CA$912.82 Million
≈ $660.32 Million		 -38.84%
2010-12-31 CA$1.49 Billion
≈ $1.08 Billion		 -10.32%
2009-12-31 CA$1.66 Billion
≈ $1.20 Billion		 -17.31%
2008-12-31 CA$2.01 Billion
≈ $1.46 Billion		 +7.43%
2007-12-31 CA$1.87 Billion
≈ $1.36 Billion		 -13.46%
2006-12-31 CA$2.16 Billion
≈ $1.57 Billion		 +4.17%
2005-12-31 CA$2.08 Billion
≈ $1.50 Billion		 -10.62%
2004-12-31 CA$2.33 Billion
≈ $1.68 Billion		 -6.36%
2003-12-31 CA$2.48 Billion
≈ $1.80 Billion		 -8.93%
2002-12-31 CA$2.73 Billion
≈ $1.97 Billion		 +30.48%
2001-12-31 CA$2.09 Billion
≈ $1.51 Billion		 +6.93%
2000-12-31 CA$1.95 Billion
≈ $1.41 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 178715900000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings CA$1.79 Billion 31.20%
Common Stock CA$3.29 Billion 57.47%
Other Comprehensive Income CA$649.33 Million 11.34%
Total Equity CA$5.73 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
CJ Corp
KO:001040
 		$4.00 Billion
Adata Technology Co Ltd
TWO:3260
 		$4.00 Billion
HOSHIZAKIL UNSP.ADR/025
F:HS00
 		$4.00 Billion
Perseus Mining Limited
F:P4Q
 		$4.01 Billion
Abercrombie & Fitch Company
NYSE:ANF
 		$3.99 Billion
Harvey Norman Holdings Ltd
AU:HVN
 		$3.99 Billion
Jointown Pharmaceutical Group Co Ltd
SHG:600998
 		$3.99 Billion
Archer Aviation Inc
NYSE:ACHR
 		$3.99 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 2023 to 2024, total equity changed from 5,276,951,000 to 5,728,236,000, a change of 451,285,000 (8.6%).
  • Net income of 360,609,000 contributed positively to equity growth.
  • Dividend payments of 207,851,000 reduced retained earnings.
  • Share repurchases of 45,808,000 reduced equity.
  • Other comprehensive income increased equity by 342,912,000.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income CA$360.61 Million +6.3%
Dividends Paid CA$207.85 Million -3.63%
Share Repurchases CA$45.81 Million -0.8%
Other Comprehensive Income CA$342.91 Million +5.99%
Other Changes CA$1.42 Million +0.02%
Total Change CA$- 8.55%

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: 1.00x
  • 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.
  • The price-to-book ratio has decreased from 2.37x to 1.00x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2000-12-31 CA$38.51 CA$91.13 x
2001-12-31 CA$40.41 CA$91.13 x
2002-12-31 CA$48.88 CA$91.13 x
2003-12-31 CA$43.97 CA$91.13 x
2004-12-31 CA$41.95 CA$91.13 x
2005-12-31 CA$38.11 CA$91.13 x
2006-12-31 CA$40.43 CA$91.13 x
2007-12-31 CA$35.74 CA$91.13 x
2008-12-31 CA$42.10 CA$91.13 x
2009-12-31 CA$35.63 CA$91.13 x
2010-12-31 CA$31.96 CA$91.13 x
2011-12-31 CA$19.43 CA$91.13 x
2012-12-31 CA$18.71 CA$91.13 x
2013-12-31 CA$35.60 CA$91.13 x
2014-12-31 CA$34.63 CA$91.13 x
2015-12-31 CA$39.26 CA$91.13 x
2016-12-31 CA$41.34 CA$91.13 x
2017-12-31 CA$45.55 CA$91.13 x
2018-12-31 CA$54.62 CA$91.13 x
2019-12-31 CA$64.21 CA$91.13 x
2020-12-31 CA$69.14 CA$91.13 x
2021-12-31 CA$83.10 CA$91.13 x
2022-12-31 CA$83.85 CA$91.13 x
2023-12-31 CA$83.29 CA$91.13 x
2024-12-31 CA$91.32 CA$91.13 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): 6.30%
  • The company has moderate efficiency in generating returns from equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 63.36%
  • • Asset Turnover: 0.06x
  • • Equity Multiplier: 1.68x
  • Recent ROE (6.30%) is below the historical average (6.43%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2000 1.44% 3.87% 0.28x 1.32x CA$-151.97 Million
2001 2.84% 6.02% 0.33x 1.41x CA$-133.57 Million
2002 0.74% 1.68% 0.27x 1.62x CA$-208.87 Million
2003 -1.98% -3.97% 0.31x 1.61x CA$-253.58 Million
2004 -0.51% -1.00% 0.28x 1.81x CA$-212.23 Million
2005 0.41% 0.84% 0.27x 1.81x CA$-176.52 Million
2006 3.57% 6.91% 0.31x 1.68x CA$-125.72 Million
2007 2.28% 4.97% 0.27x 1.67x CA$-132.74 Million
2008 -0.20% -0.42% 0.30x 1.60x CA$-200.57 Million
2009 -2.66% -11.51% 0.19x 1.21x CA$-210.72 Million
2010 -3.49% -14.51% 0.18x 1.30x CA$-201.28 Million
2011 17.43% 85.16% 0.15x 1.37x CA$67.79 Million
2012 8.13% 39.39% 0.15x 1.39x CA$-16.36 Million
2013 8.68% 71.36% 0.08x 1.48x CA$-22.09 Million
2014 4.31% 33.85% 0.08x 1.50x CA$-92.79 Million
2015 10.46% 89.38% 0.08x 1.48x CA$8.43 Million
2016 14.34% 125.03% 0.08x 1.49x CA$84.50 Million
2017 16.74% 160.67% 0.07x 1.50x CA$144.04 Million
2018 18.64% 187.95% 0.06x 1.68x CA$215.60 Million
2019 12.14% 139.61% 0.06x 1.53x CA$67.46 Million
2020 10.96% 126.34% 0.05x 1.72x CA$37.80 Million
2021 24.63% 332.90% 0.05x 1.61x CA$778.07 Million
2022 2.84% 34.19% 0.05x 1.69x CA$-391.77 Million
2023 2.59% 26.22% 0.06x 1.72x CA$-391.03 Million
2024 6.30% 63.36% 0.06x 1.68x CA$-212.21 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: $271,082,134
  • Average return on equity (ROE) among peers: -4.58%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Granite Real Estate Investment Trust (GRT-UN) CA$5.52 Billion 1.44% 0.75x $3.99 Billion
Dream Industrial Real Estate Investment Trust (DIR-UN) $626.88 Million 5.61% 1.75x $2.85 Billion
Nexus Real Estate Investment Trust (NXR-UN) $185.88 Million 8.44% 1.42x $419.68 Million
Pro Real Estate Investment Trust (PRV-UN) $483.22K -27.81% 0.05x $308.05 Million

About Granite Real Estate Investment Trust

TO:GRT-UN Canada REIT - Industrial
Market Cap
$3.99 Billion
CA$5.52 Billion CAD
Market Cap Rank
#4159 Global
#135 in Canada
Share Price
CA$91.13
Change (1 day)
-1.07%
52-Week Range
CA$62.08 - CA$93.22
All Time High
CA$93.32
Categories
Companies in Canada REIT - Industrial
About

Granite is a Canadian-based real estate investment trust (REIT) focused on acquiring, the development, ownership and management of buildings, mainly logistics facilities, warehouses and industrial buildings in North America and Europe. As of November 5, 2025, Granite owned a gross leasable area of approximately 60.9 million square feet in 140 investment properties spread across in five countries.… Read more