There are a lot of elements over which one to choose, and a lot of it comes down to individual portfolio and not really any sort of company thing.
I believe these are leaders in their respective industries, both coming under fire recently due to economic issues they really can't do anything about. It is funny because in a way, TFII and Granite are connected. More shipping = more use cases for industrial warehousing, which is effectively what Granite operates.
I would ask yourself what you want in terms of exposure, and then it really comes down to overall allocations. For example, if you already owned 10-15% of your portfolio in real estate.... I'd probably tell you TFII is the better option. However if 20% of your portfolio is already in industrial players.... I'd probably tell you Granite is the better option.
Both companies are discounted, but I do think Granite is more of a purchase right now as the environment is a bit more predictable, whereas TFII, who knows how bad the freight environment will get and we will probably need a few quarters of results to see how bad. I do expect TFII to provide higher returns over the long-term, but also acknowledge that Granite is probably going to provide smaller, albeit lower volatility returns.