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DREUF - Summit Industrial REIT: This 4.3%-Yielding REIT Continues To Shine
Dream Industrial Real Estate Investment Trust Tr Unit
Investment Thesis
Summit Industrial Income REIT (SMMCF) (TSX:SMU.UN) delivered strong Q1 2019 results with mid-single-digit same property net operating income growth. The REIT should continue to perform well thanks to strong market fundamentals in Canada. Its focus in Toronto should continue to provide strong growth due to tightness in supply. The company is trading at a premium valuation and pays a safe 4.3%-yielding dividend. Investors may want to patiently wait for a pullback before investing.