Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker / Industry / Sector

Granite Real Estate Investment Trust (GRP-UN)

Company Dividend Discount ModelIndustry: REIT - IndustrialSector: Real Estate

Valuation Snapshot

Stable Growth$350.43 - $931.82$873.25
Multi-Stage$135.40 - $148.00$141.59
Blended Fair Value$507.42
Current Price$77.59
Upside553.98%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.66%7.25%3.353.293.263.082.632.432.021.981.821.75
YoY Growth--1.93%0.80%5.86%17.18%8.27%20.36%2.03%8.44%4.40%4.96%
Dividend Yield--4.97%4.33%3.89%3.19%3.44%4.18%3.16%3.88%3.91%4.68%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)290.62
(-) Cash Dividends Paid (M)208.41
(=) Cash Retained (M)82.21
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)58.1236.3321.80
Cash Retained (M)82.2182.2182.21
(-) Cash Required (M)-58.12-36.33-21.80
(=) Excess Retained (M)24.0945.8860.41
(/) Shares Outstanding (M)62.0362.0362.03
(=) Excess Retained per Share0.390.740.97
LTM Dividend per Share3.363.363.36
(+) Excess Retained per Share0.390.740.97
(=) Adjusted Dividend3.754.104.33
WACC / Discount Rate6.63%6.63%6.63%
Growth Rate5.50%6.50%7.50%
Fair Value$350.43$873.25$931.82
Upside / Downside351.64%1,025.47%1,100.96%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)290.62309.51329.62351.05373.87398.17410.11
Payout Ratio71.71%75.37%79.03%82.68%86.34%90.00%92.50%
Projected Dividends (M)208.41233.27260.49290.26322.81358.35379.36

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.63%6.63%6.63%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)216.72218.77220.83
Year 2 PV (M)224.83229.11233.43
Year 3 PV (M)232.75239.43246.24
Year 4 PV (M)240.47249.72259.23
Year 5 PV (M)248.00259.98272.42
PV of Terminal Value (M)7,235.517,584.987,947.84
Equity Value (M)8,398.278,782.009,179.98
Shares Outstanding (M)62.0362.0362.03
Fair Value$135.40$141.59$148.00
Upside / Downside74.51%82.48%90.75%

High-Yield Dividend Screener

« Prev Page 32 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
603551.SSAUPU Intelligent Technology Corporation Limited4.75%$0.5570.57%
ABCB4.SABanco ABC Brasil S.A.4.75%$1.1227.47%
ASSA.JKPT Adi Sarana Armada Tbk4.75%$55.3753.84%
CHMF.MEPJSC Severstal4.75%$45.6947.39%
LMN.SWlastminute.com N.V.4.75%$0.6239.82%
LREN3.SALojas Renner S.A.4.75%$0.6445.84%
POT.NZPort of Tauranga Limited4.75%$0.3793.98%
005720.KSNexen Corporation4.74%$283.1621.67%
0DTK.LSavencia S.A.4.74%$2.9720.78%
1368.HKXtep International Holdings Limited4.74%$0.2535.82%
3030.SRSaudi Cement Company4.74%$1.6459.10%
EGIE3.SAEngie Brasil Energia S.A.4.74%$1.4839.71%
3570.TWOOtsuka Information Technology Corp.4.73%$7.9755.25%
600096.SSYunnan Yuntianhua Co., Ltd.4.73%$1.5851.07%
CHE-UN.TOChemtrade Logistics Income Fund4.73%$0.7071.01%
GVHGlobavend Holdings Limited4.73%$0.0761.06%
MOUR.BRMoury Construct S.A.4.73%$27.3520.85%
1578.HKBank of Tianjin Co., Ltd.4.72%$0.1210.90%
601598.SSSinotrans Limited4.72%$0.2956.81%
6393.TYuken Kogyo Co., Ltd.4.72%$152.0845.60%
7278.TEXEDY Corporation4.72%$264.7876.11%
SHURB.XDShurgard Self Storage Ltd4.72%$1.3821.77%
TDThe Toronto-Dominion Bank4.72%$4.4637.31%
0QLW.LALSO Holding AG4.71%$10.0755.86%
111110.KSHojeon Limited4.71%$377.8120.16%
3413.TWFoxsemicon Integrated Technology Inc.4.71%$13.2962.47%
BVG.BKBlueVenture Group Public Company Limited4.71%$0.0858.67%
DUNI.STDuni AB (publ)4.71%$5.0071.87%
002810.KSSamyung Trading Co., Ltd.4.70%$746.8222.45%
013520.KSHwaseung Corporation Co.,Ltd.4.70%$101.2413.31%
2S.BK2S Metal Public Company Limited4.70%$0.1176.54%
COLOR.BKSalee Colour Public Company Limited4.70%$0.0565.65%
GJTL.JKPT. Gajah Tunggal Tbk4.70%$49.8216.37%
JHSF3.SAJHSF Participações S.A.4.70%$0.3719.33%
0QLN.LTecan Group AG4.69%$6.0146.42%
2891.TWCTBC Financial Holding Co., Ltd.4.69%$2.3963.03%
9536.SRArabian Food & Dairy Factories Company4.69%$2.7742.88%
KAMART.BKKarmarts Public Company Limited4.69%$0.4280.09%
SNW.DESanofi4.69%$3.8751.33%
WWL.WAWawel S.A.4.69%$35.0061.86%
603299.SSJiang Su Suyan Jingshen Co.,Ltd.4.68%$0.4972.35%
001790.KSTS Corporation4.67%$129.8523.71%
6049.HKPoly Property Services Co., Ltd.4.67%$1.5127.86%
ABRD.MEPJSC Abrau-Durso4.67%$7.7335.43%
CURY3.SACury Construtora e Incorporadora S.A.4.67%$1.4749.28%
INCI.JKPT Intanwijaya Internasional Tbk4.67%$34.7631.60%
NTGY.MCNaturgy Energy Group, S.A.4.67%$1.2057.49%
1015.KLAMMB Holdings Berhad4.66%$0.3048.65%
1686.HKSUNeVision Holdings Ltd.4.66%$0.2247.87%
1834.SRSaudi Manpower Solutions Co.4.66%$0.2581.73%