Opinions Andy Nasr
SUMMIT INDUSTRIAL INCOME REIT RCPTSSMU.UN.TOCOMMENTAug 02, 2017
Stock price when the opinion was issued
As of Feb 21, 2023. Market Open.
You might be interested:
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.
One of the smaller industrial REITs. Prefers Pure Industrial (AAR.UN-T). At the expense of retail REITs, the industrial REITs have prospered. The more that e-commerce penetration increases, the more you are going to need warehouse space to hold products. He looks for strong balance sheets and the ability to grow organically while taking advantage of some intensification development and a potential to recycle capital, and not necessarily rely on acquisitions. If this one is going to grow, they are going to need to issue equity, which can have a bit of a negative on the stock.