Q: Do you feel Granite REITs recent weakness and drop to the mid 60s makes it a desirable takeover target. There aren’t many Canadian Industrial REITs remaining after the takeovers of Summit and WPT. Would appreciate your thoughts. Thanks.
5i Research Answer:
Yes; at 12X cash flow another party may find it attractive. Though with Magna as the main client, it is not as sexy as other industrial REITs, many of which are tied to the growth of the data centre industry and AI. But control of GRT is in the market, and as rates move lower it may become more attractive.