SCHEDULE: 1832 Asset Management and Affiliates Disclose 8.75% Stake in Granite REIT

A Schedule 13G amendment reveals 1832 Asset Management L.P., Scotia McLeod, and Jarislowsky, Fraser Limited collectively hold an 8.75% beneficial ownership in Granite Real Estate Investment Trust.

Summary

• 1832 Asset Management L.P. and its affiliates, including Scotia McLeod and Jarislowsky, Fraser Limited, have filed an Amendment No. 2 to their Schedule 13G.
• The filing indicates a collective beneficial ownership of 5,486,846 Trust Units in Granite Real Estate Investment Trust.
• This aggregate ownership represents 8.75% of the class of securities.
• 1832 Asset Management L.P. holds the largest portion with 5,311,280 shares, equating to 8.4655% of the class.
• Scotia McLeod, a division of Scotia Capital Inc., holds 175,015 shares, representing 0.279% of the class.
• Jarislowsky, Fraser Limited holds 551 shares, representing 0.0009% of the class.
• The reporting persons exercise sole voting and sole dispositive power over their respective holdings.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership, indicating a neutral sentiment as it does not contain performance data, strategic changes, or forward-looking statements that would typically influence sentiment.

Future Outlook

NA

Industry Context

This Schedule 13G filing indicates a significant passive investment by major Canadian asset management firms in Granite Real Estate Investment Trust. Such filings are standard disclosures for institutional investors holding more than 5% of a company's shares, signaling their long-term, non-control-oriented investment in the real estate sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, potentially signaling confidence from large investors.
• Management: Awareness of a substantial passive stake held by prominent asset managers.

Key Dates

Keywords

Granite Real Estate Investment Trust, Schedule 13G, Beneficial Ownership, 1832 Asset Management L.P., Scotia McLeod, Jarislowsky Fraser Limited, Trust Units, SEC Filing, Institutional Ownership, Real Estate Investment Trust