TORONTO--(BUSINESS WIRE)--Granite Real Estate Investment Trust (TSX: GRT.UN)<\/b> (\u201cGranite REIT<\/b>\u201d or \u201cGranite<\/b>\u201d) today announced the acceptance by the Toronto Stock Exchange (the \u201cTSX<\/b>\u201d) of Granite\u2019s Notice of Intention to Make a Normal Course Issuer Bid (\u201cNCIB<\/b>\u201d). Pursuant to the NCIB, Granite proposes to purchase through the facilities of the TSX and any alternative trading system in Canada, from time to time over the next 12 months, if considered advisable, up to an aggregate of <\/b>6,038,313 <\/b>of Granite REIT\u2019s issued and outstanding units (the \u201cUnits<\/b>\u201d), being approximately 10% of Granite REIT\u2019s public float of Units as of May 20, 2026. Pursuant to a previous notice of intention to conduct a NCIB, under which Granite REIT sought and received approval from the TSX to purchase up to 6,060,162 Units for the period of May 26, 2025 to May 25, 2026, Granite REIT has purchased, as of May 20, 2026, 237,536 Units on the open market at a weighted average purchase price of $69.2167 per Unit. As of May 20, 2026, Granite REIT had 60,713,130 Units issued and outstanding and a public float of 60,383,131 <\/b>Units.<\/p>
\nThe NCIB will commence on May 26, 2026 and will conclude on the earlier of the date on which purchases under the bid have been completed and May 25, 2027. Daily purchases made by Granite through the TSX may not exceed 25,625 <\/b>Units, being 25% of the average daily trading volume of 102,501 Units on the TSX for the six-month period ended April 30, 2026. These daily maximums are subject to certain exceptions prescribed by the TSX, including the \u201cblock purchase exemption\u201d.<\/p>
\nGranite REIT intends to enter into an automatic securities purchase plan with a broker as of the date on which the NCIB commences in order to facilitate repurchases of the Units under the NCIB during Granite REIT\u2019s scheduled blackout periods. Under the automatic securities purchase plan, Granite REIT\u2019s broker may repurchase Units under the NCIB in accordance with any advance instructions that Granite REIT may elect to deliver, including without limitation repurchases made at times when Granite REIT would ordinarily not be permitted to repurchase Units due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by Granite REIT\u2019s broker based upon the parameters under the NCIB and the terms of the parties\u2019 written agreement.<\/p>
\nThe Board of Trustees of Granite REIT believe that the potential purchases at prices below Granite REIT\u2019s view of intrinsic value are in the best interests of Granite REIT and are a desirable use of Granite REIT\u2019s liquidity. All Units that are purchased under the NCIB will be cancelled.<\/p>
\nABOUT GRANITE<\/b><\/p>
\nGranite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 145 investment properties representing approximately 61.5 million square feet of leasable area.<\/p>
\nOTHER INFORMATION<\/b><\/p>
\nCopies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators\u2019 Systems for Electronic Data Analysis and Retrieval+ (SEDAR+) which can be accessed at www.sedarplus.ca<\/a>. For further information, please see our website at www.granitereit.com<\/a> or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Senior Director, Legal & Investor Services, at 647-925-7504.<\/p> \nFORWARD LOOKING INFORMATION<\/b><\/p> \nThis press release may contain statements that, to the extent they are not recitations of historical fact, constitute \u201cforward-looking information\u201d within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding Granite REIT\u2019s future distributions, Unit repurchases, plans, goals, strategies, intentions, beliefs, estimates, costs, objectives, economic performance, expectations, or foresight or the assumptions underlying any of the foregoing. Words such as \u2018\u2018may\u2019\u2019, \u2018\u2018would\u2019\u2019, \u2018\u2018could\u2019\u2019, \u2018\u2018will\u2019\u2019, \u2018\u2018likely\u2019\u2019, \u2018\u2018expect\u2019\u2019, \u2018\u2018anticipate\u2019\u2019, \u2018\u2018believe\u2019\u2019, \u2018\u2018intend\u2019\u2019, \u2018\u2018plan\u2019\u2019, \u2018\u2018forecast\u2019\u2019, \u2018\u2018project\u2019\u2019, \u2018\u2018estimate\u2019\u2019, \u201cseek\u201d, \u201cobjective\u201d and similar expressions are used to identify forward-looking information. Forward-looking information should not be read as guarantees of future Unit repurchases, events, performance or results and will not necessarily be accurate indications of whether or the times at or by which such future Unit repurchases, events or performance will be achieved. Undue reliance should not be placed on such statements. Forward-looking information is based on information available at the time and\/or management\u2019s good faith assumptions and analyses made in light of its perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances, and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Granite REIT\u2019s control, that could cause actual events or results to differ materially from such forward-looking information. Important factors that could cause such differences include, but are not limited to, the risks set forth under \u201cRisks and Uncertainties\u201d in Granite\u2019s Management\u2019s Discussion and Analysis for the quarter ended March 31, 2026 filed on May 6, 2026 and in the annual information form of Granite REIT dated February 25, 2026 (the \u201cAnnual Information Form<\/b>\u201d). The \u201cRisk Factors\u201d section of the Annual Information Form also contains information about the material factors or assumptions underlying such forward-looking information. Forward-looking information speaks only as of the date the statements and information were made and unless otherwise required by applicable securities laws, Granite REIT expressly disclaims any intention and undertakes no obligation to update or revise any forward-looking information contained in this press release to reflect subsequent information, events or circumstances or otherwise.<\/p> \nTeresa Neto, Chief Financial Officer\n \nAndrea Sanelli, Senior Director, Legal & Investor Services\n TORONTO–(BUSINESS WIRE)–Granite Real Estate Investment Trust (TSX: GRT.UN) (\u201cGranite REIT\u201d or \u201cGranite\u201d) today announced the acceptance by the Toronto Stock Exchange (the \u201cTSX\u201d) of Granite\u2019s Notice of Intention to Make a Normal Course Issuer Bid (\u201cNC…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10211","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/10211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10211"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/10211\/revisions"}],"predecessor-version":[{"id":10212,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/10211\/revisions\/10212"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}