WPT Industrial REIT (WIR.UN.TO) Buy, Sell or…

WPT Industrial REIT (WIR.UN.TO)

26.81

-0.05 (0.19%)

as of Oct 19, 2021, 8:00:00 pm Market Open.

181 watching

PAST TOP PICK

(A Top Pick Apr 30/20, Up 13%) It is US assets listed on the TSX. They have large warehouses to deal with eCommerse, which is rising post-pandemic. It still has quite a bit of upside.

COMMENT

Industrial REITs The market down turn only increases the value of warehouse REITs. Supply chains are going to see dramatic changes post pandemic. Having a 7% yield in a company that can still grow is good. He holds WIR.

PAST TOP PICK

(A Top Pick Aug 21/19, Down 10%) The REITs have been hit pretty hard through the pandemic. It is an industrial REIT and is only down 10% because they are insulated from the affects of the pandemic to some extent. He continues to really like it and it is one of his top holdings.

TOP PICK

Warehouses in the US. It is miss-priced because it trades in Toronto. They are focused on distribution assets in the US. It trades at a discount to net asset value. There is quite a bit of upside. He is very positive on industrial warehousing as you need warehouse space despite the shift to e-commerce. (Analysts’ price target is $13.94)

COMMENT

Dividend safe? He owned BTB.UN a few years ago as they held light industrial and commercial real estate around Montreal. The issue going back 3-4 years ago was they had issues meeting financial metrics, which he feels was due to them over distributing earnings. He would prefer to hold WPT and GRT.UN.

BUY

He likes names with US assets trading on the TSX. They struggled to keep up with peers and he thinks they turned the corner here. It is pretty attractive.

COMMENT

Dream has been a very good performer in a very good space. It is still a little over valued at this level. He prefers WPT instead.

HOLD

A hot business in the US and Canada for fulfillment centres. Good partners. Stick with it. Smaller and cheaper than comparable US companies.

PAST TOP PICK

(A Top Pick Jan 23/19, Up 15%) It has under performed other REITs and should continue to do well. They are warehouse logistics experts and benefit from Amazon's growth. He thinks the issuance of paper recently has held the share price down. They are expected to be added to the Index soon and this should bolster some additional buying.

COMMENT

Industrial REITs? He likes WPT Industrial REIT. In the US he likes Prologis, but the valuation is too high. Whereas WTP trades at a discount to NAV.

PAST TOP PICK

(A Top Pick Mar 20/19, Up 8%) It trades at a discount to their peers -- it is cheap. They have realigned management, bringing it back internal, so it is again re-aligned with unit holders. They have a 99.5% occupancy rate in the Midwest and South -- all logistic centres -- and is very stable. There is way more value versus owning the US company equivalent -- trading 20% cheaper.

PAST TOP PICK

(A Top Pick Jan 31/19, Up 3%) It's disappointed. He expected it to do 10%, though it could still reach that this year. There's a good chance for growth in the industrial sector, and remains a top idea for industrial exposure. Expect a 5% dividend yield + 5% growth this year.

PAST TOP PICK

(A Top Pick Mar 06/19, Up 9%) A US real estate play in fulfillment centres, but WPT hasn't been keeping up with the TSX or US REITs, but he's holding onto it. It's a USD issue, but they will have a Canadian listing with Canadian dividends and this might open it up to Canadian investors. Private equity is looking for big assets like this, so WPT could be a take-out target.

DON'T BUY

Likes the industrial REIT space, very popular among investors now; it benefits from e-commerce. Solid managers. Properties are entirely in the US midwest, some being challenged markets. So, he doesn't see higher growth. Buy Dream Industrial or Summit REITs instead.

PAST TOP PICK

(A Top Pick Nov 28/18, Up 16%) A great way to get exposure to US industrial and e-commerce (Amazon is a big customer). They've done a great job acquiring proprties in Chicago, Milwaukee and Minneapolis, the mid-heartland of American industry. It trades at close to book. Pays 5.5% dividend yield. He continues to buy at these levels.

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