Topic: How To Invest

Q: Hi, Pat. What do you think of WPT Industrial REIT? Thanks!

Article Excerpt

A: WPT Industrial REIT, $15.39, symbol WIR.U on Toronto (Units outstanding: 87.1 million; Market cap: $1.3 billion; www.wptreit.com), is a Canadian REIT that owns and manages industrial properties in the U.S. Right now, WPT has 99 properties in 20 states. In all, they include 34.2 million square feet of leasable area. It also has one property under development and five joint venture properties. In addition, WPT manages three properties where it has no ownership stake. The trust’s top tenants by square footage are FedEx, General Mills, Unilever, Ikea, Amazon.com, Fullbeauty Brands, Keystone Automotive, Continental Tire, Zulily, International Paper, and MWI Veterinary Supply. WPT continues to grow steadily by acquisition. For instance, in March 2020, it acquired 26 distribution and logistics properties in the U.S. for $730 million (all figures including unit price and market cap in U.S. dollars). These properties comprise nine million square feet of leasable area. In addition, it acquired a single 85-acre parcel of land as part of the purchase…