A US company like EIF-T, and is it like Cargojet? No, not like Cargojet, and he can't compare EIF to an US company. But a Canadian comparable is Onex, a holding company that owns industrials and several small airlines that served remote regions (i.e. northern Quebec). All airlines are struggling now, but these remote areas still depend on airlines flying there. Onex also owns light industrials, like one they bought in the US recently. Well-managed and a roll-up story. Are astute acquirers. Also pays a juicy dividend.
It's cheap, but not undervalued, but because their properties are in Alberta at a time when oil is out of favour by global markets. Look at CAP REIT which is in better regions. Location counts for a lot in a REIT. Alberta unfortunately is not the place to invest in now.