Granite Real Estate Investment Trust (TSX:GRT.UN) Interest Expense : C$-72.9 Mil (TTM As of Dec. 2023)

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What is Granite Real Estate Investment Trust Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Granite Real Estate Investment Trust's interest expense for the three months ended in Dec. 2023 was C$ -22.0 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was C$-72.9 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Granite Real Estate Investment Trust's Operating Income for the three months ended in Dec. 2023 was C$ 100.3 Mil. Granite Real Estate Investment Trust's Interest Expense for the three months ended in Dec. 2023 was C$ -22.0 Mil. Granite Real Estate Investment Trust's Interest Coverage for the quarter that ended in Dec. 2023 was 4.55. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Granite Real Estate Investment Trust Interest Expense Historical Data

The historical data trend for Granite Real Estate Investment Trust's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Granite Real Estate Investment Trust Interest Expense Chart

Granite Real Estate Investment Trust Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-27.77

-33.61

-39.39

-45.18

-72.86

Granite Real Estate Investment Trust Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense	Get a 7-Day Free Trial															-15.91	-16.29	-17.29	-17.25	-22.04

Granite Real Estate Investment Trust Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-72.9 Mil.

Granite Real Estate Investment Trust (TSX:GRT.UN) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Granite Real Estate Investment Trust's Interest Expense for the three months ended in Dec. 2023 was C$-22.0 Mil. Its Operating Income for the three months ended in Dec. 2023 was C$100.3 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was C$2,854.3 Mil.

Granite Real Estate Investment Trust's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	100.264	/	-22.037
	=	4.55

The higher the ratio, the stronger the company's financial strength is.

Granite Real Estate Investment Trust (TSX:GRT.UN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Granite Real Estate Investment Trust (TSX:GRT.UN) » Definitions » Interest Expense

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GRP.U:USA 4I7:Germany

Address

77 King Street West, Suite 4010, P.O. Box 159, Toronto-Dominion Centre, Toronto, ON, CAN, M5K 1H1

Website

https://www.granitereit.com

Granite Real Estate Investment Trust, or Granite, is a real estate investment trust engaged in the acquisition, development, ownership and management of of logistics, warehouse and industrial properties in North America and Europe. Granite's portfolio comprises various manufacturing, corporate office, warehouse and logistics, and product engineering facilities. The vast majority of the company's assets are logistics and distribution warehouses and multipurpose buildings split fairly evenly amongst Canadian, Austrian, and U.S. locations. Granite derives nearly all of its revenue in the form of rental income from its properties. The company's tenant is Magna International, an automotive parts and systems manufacturer, which accounts for the majority of Granite's lease income.

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