Topic: How To Invest

Hi Pat and crew: We would be pleased to hear your opinion on Pure Industrial REIT. Thanks in advance.

Article Excerpt

Pure Industrial REIT, $4.54, symbol AAR.UN on Toronto (Units outstanding: 50.5 million; Market cap: $229.3 million; www.piret.ca), owns industrial properties across Canada. As of September 30, 2011, the real estate investment trust owned 62 buildings containing 4.1 million square feet of leasable area. Pure Industrial has 38% of its leasable area in Ontario, 25% in Alberta, 15% in B.C., 10% in Manitoba, 5% in Quebec, 4% in Saskatchewan and 3% in New Brunswick. Pure Industrial’s largest tenants by square footage are TransForce (a major Canadian trucking company), Advance Engineered Products, Kingspan Insulated Panels (a subsidiary of Kingspan Group plc) and RSAC Canada and Reliance Metals Canada (which are both subsidiaries of multinational metals processor Reliance Steel & Aluminum). In the three months ended September 30, 2011, the trust’s revenue jumped 129.5%, to $10.0 million from $4.4 million a year earlier. The rise mostly came from acquisitions. Cash flow per unit was unchanged at $0.09. Pure Industrial’s occupancy rate is a high 98.9%. The trust…

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