Latest news with #Granite
Yahoo
2 days ago
- Business
- Yahoo
The Smartest Canadian Stock to Buy With $1,000 Right Now
Written by Amy Legate-Wolfe at The Motley Fool Canada When markets start to feel shaky, many investors head straight for safety. Some go for gold, others hold cash, but many smart Canadians look to real estate. Not just any real estate investment, but ones that provide reliable income, steady growth, and insulation from retail or office volatility. One of the best places to start, especially if you have $1,000 to invest, might be Granite Real Estate Investment Trust (TSX: It's not a household name, but it definitely should be. Granite is a REIT that focuses almost entirely on logistics and industrial properties. So instead of shopping malls or apartment buildings, it owns warehouses and distribution centres. These are the buildings that keep supply chains moving and online orders arriving on time. It's a part of the economy that's become essential, especially as e-commerce continues to boom. With tenants like Amazon and Magna International, Granite's portfolio is both diversified and dependable. As of writing, it owns over 140 income-producing properties spread across Canada, the U.S., and Europe. That geographic spread adds some global resilience, while the tenant list speaks volumes about its reliability. Granite recently released its first-quarter earnings for 2025, and the numbers were strong. Rental revenue came in at $154.7 million, up from $138.9 million the year before. Net operating income was $125.7 million, also showing steady growth. It reported $91 million in funds from operations (FFO), or $1.46 per unit, which is up from $1.30 a year earlier. FFO is a key metric for REITs, and rising FFO usually means more potential cash for distributions. Even better, adjusted funds from operations (AFFO) hit $88.4 million, or $1.41 per unit, compared to $1.22 the previous year. That's an impressive increase and speaks to Granite's efficiency and rising profitability. The AFFO payout ratio dropped to 60% from 67%, which shows the dividend is not just sustainable, it's well-covered. Another bright spot is the balance sheet. Granite finished the quarter with about $3.2 billion in total debt, but its leverage ratio sat at just 32%. That's low compared to many REITs, giving it room to grow or weather headwinds. It also repurchased nearly a million units under its buyback plan, spending $63.6 million at an average price of $68.30. That kind of buyback shows the company thinks its own stock is undervalued, and it's putting money behind that belief. Occupancy remained strong at 94.8%, with rental spreads of about 10% over expiring leases. This means Granite isn't just keeping its tenants, it's raising rents as leases renew. It completed over 736,000 square feet of leasing activity during the quarter, a healthy sign in any real estate market. Long-term leases and high-quality tenants help protect its cash flow, even in uncertain times. As of writing, Granite's stock was trading at around $67.23. It pays an annual dividend of $3.40, which gives it a yield of roughly 5.1%. That's a generous payout from a company with excellent financials and a defensive portfolio. Over time, those payments can compound, especially if reinvested. What's more, Granite is well-positioned for long-term growth. Demand for warehouses and logistics centres is only growing, thanks to shifts in global supply chains, rising e-commerce, and just-in-case inventory strategies. New construction for these types of buildings hasn't kept up with demand, especially near urban centres. That bodes well for Granite, as higher demand and limited supply usually mean better rental income and property values. So if you're sitting on $1,000 and wondering where to put it, Granite REIT deserves your attention. You're not just buying a stock, you're buying into a growing global portfolio of essential infrastructure. You're collecting income while you wait. And you're owning a piece of something that isn't going out of style anytime soon. The post The Smartest Canadian Stock to Buy With $1,000 Right Now appeared first on The Motley Fool Canada. Before you buy stock in Granite Real Estate Investment Trust, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Granite Real Estate Investment Trust wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Amazon, Granite Real Estate Investment Trust, and Magna International. The Motley Fool has a disclosure policy. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 days ago
- Business
- Business Wire
Granite's Brunswick Facility to Support East William Street Complete Project in Carson City
WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has been awarded a contract valued at approximately $21 million by Carson City, Nevada to enhance the city's transportation network. Project funding is to come from local funding and a Federal Highway Administration (FHWA) grant and will be included in Granite's second-quarter CAP. 'Carson City is excited to partner with Granite to get construction underway on the 3rd of our major corridor complete streets projects,' said Darren Anderson, City Engineer at the Carson City Public Works Department. 'This project will upgrade the major gateway (East William Street) from the east to the downtown core of Carson City.' The East William Complete Street Project will revitalize a nearly 1.5-mile stretch of East William Street, converting it from a vehicle-dominated corridor into a multi-modal roadway. The redesigned corridor will accommodate drivers, cyclists, and pedestrians alike, promoting safer and more accessible transportation for all users. "This project reflects our commitment to our people and the communities we serve," said Chris Burke, Granite Vice President of Regional Operations. "It provides meaningful work for our personnel over the course of nearly a year and allows us to collaborate closely with Carson City on a project that will have a lasting community impact." Granite's Brunswick Facility, acquired in 2023, will supply approximately 10,000 tons of asphalt pavement for the project. 'This contribution underscores the facility's strategic value and its role in delivering high-quality materials that benefit both Granite and the Carson City community,' said Brad Estes, Granite Senior Vice President of Construction Materials. Construction is expected to begin in July 2025 and be completed in Summer 2026. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, X, Facebook, and Instagram.
Yahoo
23-05-2025
- Business
- Yahoo
Granite announces $26M San Francisco International Airport project
Granite (GVA) has been awarded an approximately $26 million contract by the San Francisco International Airport (SFO) to upgrade Taxiway Z and a portion of Taxiway S at SFO in San Francisco, California. Project funding is to come from SFO and will be included in Granite's second-quarter CAP. This project will rehabilitate the taxiways to ensure the continued safety and efficiency of aircraft operations. Taxiway Z serves as a primary corridor for aircraft movement between the terminals, airline maintenance, and cargo facilities. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on GVA: Disclaimer & DisclosureReport an Issue Granite awarded first phase of CMGC contract in Alaska for $54M Granite COO James Radich announces planned retirement date Granite Construction Announces COO Retirement Granite announces retirement of COO James Radich, effective July 4 Granite Construction Sees Revenue Growth Amid Net Loss Sign in to access your portfolio
Yahoo
23-05-2025
- Business
- Yahoo
Granite COO Jim Radich to retire
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Granite Construction Chief Operating Officer Jim Radich will retire on July 4 after 45 years at the Watsonville, California-based contractor, the firm announced May 16. Granite said it won't fill Radich's role once he leaves. Instead, it has created an Operations Executive Team where senior vice presidents of its construction and materials divisions will report directly to President and CEO Kyle Larkin. Senior Vice Presidents Brian Dowd, Michael Tatusko and Bradley Williams will run the construction side, while Bradly Estes will oversee the materials business. The new structure will provide more leadership opportunities for the executive team members while enabling them to elevate issues directly to Larkin instead of the COO position, Erin Kuhlman, Grainte's chief marketing and communications officer, told Construction Dive. The move is the latest change at the company which has transformed itself since the pandemic from a geographically oriented builder and supplier of road materials to a vertically integrated construction manager/general contractor focused on smaller, more profitable work packages on larger infrastructure projects. It has also redoubled its focus on its materials business, retooling several of its aggregate and asphalt plants with automation, while using targeted, bolt-on acquisitions to increase market share nationally. The news of Radich stepping down comes one year after the firm's former CFO, Lisa Curtis, announced her own retirement in 2024. She left in September, when current CFO Staci Woolsey stepped into the position. In a news release, Larkin praised Radich's long service to the company. 'Having joined Granite in 1980, Jim's numerous and meaningful contributions to Granite span decades,' Larkin said. Radich served in a number of roles, including project manager on key heavy-civil projects, chief estimator in the vertically integrated business, vice president and regional manager within northern California and senior vice president and California manager. As executive vice president and chief operating officer, Radich oversaw the day-to-day operations of the company and ensured appropriate reporting procedures, people and systems were in place to meet the operating requirements and financial goals of the company, especially during its more recent restructuring. 'Jim's leadership has been instrumental as we transformed the company over the last four years, and we are all grateful for his service to Granite,' Larkin said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
22-05-2025
- Business
- Business Wire
Granite Announces San Francisco International Airport Rehabilitation Project
WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has been awarded an approximately $26 million contract by the San Francisco International Airport (SFO) to upgrade Taxiway Z and a portion of Taxiway S at SFO in San Francisco, California. Project funding is to come from SFO and will be included in Granite's second-quarter CAP. This project will rehabilitate the taxiways to ensure the continued safety and efficiency of aircraft operations. Taxiway Z serves as a primary corridor for aircraft movement between the terminals, airline maintenance, and cargo facilities. "We are excited to be part of this critical infrastructure project at SFO," said Brent Fogg, Granite Vice President of Regional Operations. "Our collaboration with SFO on the Taxiway Z Rehabilitation Project underscores our commitment to delivering exceptional projects and advancing the safety and efficiency of airport operations." Project scope includes the reconstruction of asphalt concrete pavement, replacement of airfield lighting with LED lighting and signage, a 12kV electrical duct bank upgrade, and the installation of updated pavement markings and drainage improvements. These enhancements are designed to improve the overall functionality and safety of the taxiways, ensuring that SFO remains a leader in aviation infrastructure. This project is part of SFO's Capital Improvement Program (CIP), a multi-billion-dollar initiative focused on modernizing and improving the airport's infrastructure, including runways, taxiways, and terminals. The CIP includes the "Delivering Exceptional Projects" initiative, which aligns with Granite's key objectives of Trust, Transparency, Early Contractor Collaboration, and Alternate Delivery. This project also supports Granite's long-term goals to partner with SFO on their other Alternate Procurement Projects. Granite's nearby Santa Clara hot plant will be providing 24,105 tons of hot mix asphalt (HMA) for the project, ensuring high-quality materials and efficient delivery. Construction is expected to begin in August 2025 and be completed in November 2025. About Granite Granite is America's Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite's Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, X, Facebook, and Instagram.
