Opinions Derek Warren
SUMMIT INDUSTRIAL INCOME REIT RCPTSSMU.UN.TOCOMMENTJun 13, 2014
Derek WarrenStock price when the opinion was issued
As of Feb 21, 2023. Market Open.
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Andrew MoffsTrevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Strong occupancy rate at 99.2%. Owns 156 properties in Canada’s largest hubs. Strong revenue growth and net income. Supported by robust Canadian real estate. Unlock Premium - Try 5i Free
Andrew MoffsAndrew Moffs
Stockchase DiscoverAndrew MoffsFocused on Canadian industrial warehouses. It's returned to its highs. However, its valuation has gotten high, so maybe take profits and add back later. There are better values in industrial spaces, though. Look at Granite REIT. Otherwise, nothing wrong with SMU.
(A Top Pick Feb 12/19, Up 32%) Scotiabank just announced a $13.75 target. Managers own about 10% of shares. There's good industrial rent growth in Toronto and Montreal. Vacancy rates are rock-bottom low.
Jeffrey F. Olin
Buy more? He can't answer that without knowing the overall portfolio, but also look at RIOCAN REIT in the North American industrial REIT space.
Dream Office REIT (D.UN-T) versus Summit Industrial REIT (SMU.UN-T)? In general, he really likes the industrial space, which is going to benefit the most from the improving US economy as industry picks up. Dream would have a little bit more growth opportunity while this one is fully leased, and has a longer lease term, so you won’t see as much turnover in the short term. You want turnover in the short term. However, this has a good yield. (See Top Picks.)