Q: What is happening with Granite REIT Stapled Units? The GRT.UN-C symbol that I used to see in my online account has been replaced by 854536-C*. Thank you
5i Research Answer:
Granite has converted from a stapled unit structure to a 'normal' REIT structure. It was complicated, but unit holders now own the same number of REIT units that they did as stapled units. Nothing changes there. The stock trades GRT.UN on TSX and the change cleans up the structure and should be a net positive, over time, if investors appreciate the better clarity of the corporate organization.