Opinions
Jeff Young
WPT Industrial REIT
WIR.UN-T
PAST TOP PICK
Dec 08, 2015
$12.000
Stock price when the opinion was issued
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PAST TOP PICK
(A Top Pick Apr 30/20, Up 36%) Because it holds US assets, but the REIT lists in Canada, you can buy the cheapest US industrial REIT. Cap rate is 5.5%. Drop that to 5%, then this REIT is worth north of $18. They're doing the right capital allocation buying assets, yet also selling assets to partners. Likes the valuation. E-commerce will remain at current levels or rise, but not decline, so this is a major tailwind.
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BUY
He is very bullish on it. It operates solely in the US. Canadian investors don't value these stocks appropriately and US investors don't typically come north of the boarder to buy real estate exposure. He thinks we are in the early innings of the industrial warehouse cycle. They have a growing fee income stream.
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(A Top Pick Dec 8/14. Up 18.07%.) A REIT with their assets in the US, which is largely distribution warehouses. Good management. They have been going through a strategic review for the last 6 months, so he expects they will sell their portfolio as there is a lot of demand for their type of assets.