WPT Industrial REIT (WIR.UN.TO)

Predominantly US exposure. It is a high quality portfolio. He prefers AAR.UN-T but if this one got cheap enough he would include it in some portfolios. This one is also externally managed and he does not like that.

A great way for Canadians to have exposure to a stronger US dollar, have assets in the US and get paid just under 7% on a monthly basis. There is more room to run and it is industrial. This category is only going to rise in overall value. (Analysts’ Target: $12.56)

(Market Call Minute.) A US industrial. A lot of it is Amazon type business. Thinks it offers good value.

Recently went through a bit of a soap opera by doing a strategic review to figure out if they should sell the company. That created a bit of a pop in the stock and then it dragged down. They then decided they were going to go forward with that. This had been disappointing to the market, so the stock had a correction. Expect it is trading below NAV at this point. As a going concern, he still likes the properties. Dividend yield of about 8%.

(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.

(Top Pick Dec 8/14, Up 15.71%) It is smaller and has the ability to grow. Properties are in the US. They are going through a strategic review right now.

(A Top Pick Sept 5/14. Up 26.28%.) US properties. Announced a strategic review and that they were looking to put themselves up for sale. Raised their dividend 9%.

We don’t know why they announced a strategic review. This is probably a good thing. It may go higher after the review. It is a wait and see at this point.

They are going to undertake a strategic review process and might sell some or all of their properties. He thinks there is still some upside. He likes the industrial subsector and some US exposure.

(A Top Pick June 13/14. Up 17.62%.) (Derek was not on June 17/14, so I’m just using BNN’s figures. Bill.) A Canadian REIT, but all of its assets are in the US. Very large bay industrial buildings that can be leased to a number of different tenants. The industrial market in the US is very, very strong. They have a number of leases that are coming due that are significantly below market, so this is a definite hold.

One of the newer IPOs in Canada, but all assets are in the US. Owns very high quality industrial real estate. Had a drop from its IPO, but has recovered because the US industrial market is performing very well. Cash flow has been very strong. They have the benefit of the US$ going higher. Have been able to bring down the payout ratio and raise equity in order to make accretive investments. From an investment standpoint, it needs to get a little bit larger for him.

Warehouses and distribution centers in the US. Benefiting from the theme of e-commerce. 6.6% yield, almost 100% occupancy. Will be able to bring in new properties and grow.

A Canadian listed US REIT that is focusing on industrial warehouse space based in the US. A nice way to get US assets into a Canadian portfolio. Has a wonderful yield of 6.5%. Very stable customers. Attractive from the premise that from the US Midwest, you are getting good transportation growth from a distribution angle. Thinks they are 99% leased with some growth potential in what the tenants are paying year after year.

(A Top Pick Nov 13/13. Up 33.11%.) Just met with management and things are firing on all cylinders. In this one you are buying a US industrial that is very much logistics space, such as the Amazons, etc. Still cheap.

A new REIT, trading in and around where it came out and he thinks the NAV is around $11. One of the higher quality REITs that have IPO’ed. Assets are in and around key distribution states. Payout ratio and leverage are sound. He would own if it was larger. They may have trouble raising equity for acquisitions.