Start with its own history
At 17.21×, GRP-UN is 28.3% above its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · GRP-UNREIT - IndustrialUpdated Oct 28, 2026
Granite Real Estate Investment Trust P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
17.21×
28.3% abovethe 10-year annual average
Share price59.19
÷Earnings per share3.44
Price and EPS in quote currency. Calculation details
Investors are paying 17.21 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 13.41×
3-year average20.70×3 positive annual observations
5-year average19.23×5 positive annual observations
10-year average13.41×10 positive annual observations
Peer median · TTM31.37×6 peers with positive P/E
Historical P/E ratios
Annual period-end data · 13 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 14.59× | +19.6% |
| Dec 31, 2024 | 12.20× | -65.5% |
| Dec 31, 2023 | 35.31× | +22.2% |
| Dec 31, 2022 | 28.90× | +461.3% |
| Dec 31, 2021 | 5.15× | -49.8% |
| Dec 31, 2020 | 10.26× | +21.3% |
| Dec 31, 2019 | 8.46× | +61.8% |
| Dec 31, 2018 | 5.23× | -19.0% |
View all 13 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 6.45× | -14.6% |
| Dec 31, 2016 | 7.56× | -18.1% |
| Dec 31, 2015 | 9.24× | -66.6% |
| Dec 31, 2014 | 27.69× | +121.3% |
| Dec 31, 2013 | 12.51× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How GRP-UN compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 GRP-UN This stockGranite Real Estate Investment Trust | 17.21× |
 NSA-PANational Storage Affiliates Trust | 57.11× |
 PSA-PHPublic Storage | 35.78× |
 IIPR-PAInnovative Industrial Properties, Inc. 9.00% Series A Cumulative Redeemable Preferred Stock | 12.49× |
 LXPLXP Industrial Trust | 31.37× |
 PLYMPlymouth Industrial REIT, Inc. | N/M |
 REXR-PBRexford Industrial Realty, Inc. | N/M |
 LXP-PCLXP Industrial Trust | 31.37× |
 AMH-PGAmerican Homes 4 Rent | 26.75× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does GRP-UN’s P/E tell you?
Compare like with like
The median of the 6 positive peer ratios above is 31.37×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take GRP-UN into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("GRP-UN", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 59.19 ÷ EPS 3.44 = 17.21×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Oct 28, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
GRP-UN P/E ratio: common questions
The essentials behind the numbers.
Granite Real Estate Investment Trust's current P/E is 17.21× based on the quote data last updated Oct 28, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.