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Summit Industrial Income REIT (SMU_u)

Toronto
Currency in CAD
Disclaimer
23.48
0.00(0.00%)
Real-time Data

SMU_u Comments

I hear this is a good one!  Just jumped in at $12.67 - Thoughts for the future?
P/AFFO of 23x which may look expensive but if you convert that into real estate terms, that's a 4.3% cap rate. CBRE Q2's report shows that industrial in the GTA (where most of Summit's properties are) trades in the 4.00-4.50% for class A (which is was Summit buys). So the price is totally in line with market. . Other than that, 35% LTV and a 4.8% CAGR on dividends over the past 5 years... that's pretty good!. The only downside is their payout ratio which is close to 100%. That scares me a little.. Taking a step back from the numbers, industrial is the hottest asset class in the country. Wait until Alberta wakes up and Summit's assets will start climbing.
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