WIN - Want To Own The REIT With The Lowest Leverage?
Granite REIT (GRP.U) is a dual-listed (TSX & NYSE) REIT whose major tenant is Magna International (MGA). MGA accounts for about 59% of Granite's gross leasable area (GLA). Granite started off being dependent on MGA for almost all it revenues, however it has successfully reduced its reliance on MGA over time.
Source: Granite REIT April 2018 presentation
Currently, Granite has a stellar industrial and distribution portfolio comprising over 80 properties and 30 million square feet.
That low leverage translates into a debt to EBITDA ratio that is unheard off in the