Granite Real Estate Investment Trust Reports Strong Q3 Results with Revenue Beat

Granite Real Estate Investment Trust (GRTUF) reported third-quarter financial results that significantly exceeded expectations, posting revenue of $166.6 million, which beat estimates by $47.58 million. The company's net operating income rose to $136.0 million, up from $127.1 million in the same period last year. Funds from operations (FFO) also showed healthy growth, reaching $99.5 million ($1.60 per unit) compared to $89.9 million ($1.48 per unit) in the prior year's third quarter. These results reflect improved operational efficiency and stronger underlying performance within its real estate portfolio.

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