Topic: How To Invest

Q: Pat: I’m looking for a replacement to Pure Industrial REIT, which got taken over recently. I have two candidates so far: Dream Industrial and WPT, which has all of its assets in the U.S., but is listed on the TSX. What do you think about those two? Thanks.

Article Excerpt

A: WPT Industrial REIT, $13.10, symbol WIR.U on Toronto (Units outstanding: 44.5 million; Market cap: $583.0 million; www.wptreit.com), is a Canadian REIT that owns and manages industrial properties in the U.S. Right now, WPT has 52 properties in 15 states. In all, they include 17.6 million square feet of leasable area. The trust’s top tenants by square footage are General Mills, Unilever, Continental Tire, Zulily, Keystone Automotive, Fullbeauty Brands, Radial Inc., CEVA Logistics, Amazon.com and Honeywell. WPT continues to grow steadily by acquisition. In November 2017, WPT paid $6.4 million for an industrial property in Reno, Nevada. (All figures including unit price and market cap in U.S. dollars.) In September 2017, it completed a $74.3 million acquisition of an industrial property in Quakertown, Pennsylvania. Revenue rose 23.9% from $57.4 million in 2014 (its first full year of results) to $71.1 million in 2016. Over that same period, WPT improved its cash flow 37.6%, from $22.6 million in 2014 to $31.1 million in 2016. However,…

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