Investment Thesis
Summit Industrial Income REIT (SMMCF) [TSX:SMU.UN] delivered another quarter of same-property net operating income growth despite the outbreak of COVID-19. The company’s rent collected in June remains at a high level and has a strong balance sheet to navigate through this health crisis. Its outlook remains favorable as e-commerce sales growth trend continues. The REIT currently pays a 4.7%-yielding dividend and has the potential to deliver a price return of 19.4% by the end of 2021. Hence, this is a good stock to own for investors seeking both capital appreciation and dividend income.