Stocks in play: Granite Real Estate Investment Trust

Announced today that the leases at its properties in Graz, Austria, comprising approximately five million square feet, have been contractually extended for 10 years to January 31, 2034. On February 1, 2024 the annual rent for the Graz Facilities for the initial five years of the extension will escalate by the increase in the consumer price index for the 60-month period preceding that date, to a maximum of ten percent. The Graz Facilities are Granite’s largest properties as measured by gross leasable area and currently account for approximately 8% of Granite’s annualized revenue. Granite Real Estate Investment Trust shares T.GRT.UN are trading down $0.85 at $80.58.

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