Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. More Details
+ 1 more risk
Proven track record with mediocre balance sheet.
Share Price & News
How has Summit Industrial Income REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SMU.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: SMU.UN's weekly volatility (2%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: SMU.UN exceeded the Canadian REITs industry which returned 30.7% over the past year.
Return vs Market: SMU.UN exceeded the Canadian Market which returned 28% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is Summit Industrial Income REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 months ago | Simply Wall StIs Summit Industrial Income REIT's (TSE:SMU.UN) Latest Stock Performance Being Led By Its Strong Fundamentals?
8 months ago | Simply Wall StDid You Participate In Any Of Summit Industrial Income REIT's (TSE:SMU.UN) Fantastic 220% Return ?
Is Summit Industrial Income REIT undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: SMU.UN (CA$19.12) is trading above our estimate of fair value (CA$17.56)
Significantly Below Fair Value: SMU.UN is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: SMU.UN is good value based on its PE Ratio (9.9x) compared to the Canadian REITs industry average (12.2x).
PE vs Market: SMU.UN is good value based on its PE Ratio (9.9x) compared to the Canadian market (13.8x).
Price to Earnings Growth Ratio
PEG Ratio: SMU.UN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: SMU.UN is overvalued based on its PB Ratio (1.6x) compared to the CA REITs industry average (0.9x).
How is Summit Industrial Income REIT forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SMU.UN's earnings are forecast to decline over the next 3 years (-31.6% per year).
Earnings vs Market: SMU.UN's earnings are forecast to decline over the next 3 years (-31.6% per year).
High Growth Earnings: SMU.UN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SMU.UN's revenue (8.8% per year) is forecast to grow faster than the Canadian market (5% per year).
High Growth Revenue: SMU.UN's revenue (8.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SMU.UN's Return on Equity is forecast to be high in 3 years time
How has Summit Industrial Income REIT performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SMU.UN has a large one-off gain of CA$197.5M impacting its March 31 2021 financial results.
Growing Profit Margin: SMU.UN's current net profit margins are higher than last year .
Past Earnings Growth Analysis
Earnings Trend: SMU.UN's earnings have grown significantly by 42% per year over the past 5 years.
Accelerating Growth: SMU.UN's earnings growth over the past year (64.7%) exceeds its 5-year average (42% per year).
Earnings vs Industry: SMU.UN earnings growth over the past year (64.7%) exceeded the REITs industry -23.8%.
Return on Equity
High ROE: SMU.UN's Return on Equity (14.6%) is considered low.
How is Summit Industrial Income REIT's financial position?
Financial Position Analysis
Short Term Liabilities: SMU.UN's short term assets (CA$114.6M) exceed its short term liabilities (CA$87.6M).
Long Term Liabilities: SMU.UN's short term assets (CA$114.6M) do not cover its long term liabilities (CA$1.2B).
Debt to Equity History and Analysis
Debt Level: SMU.UN's debt to equity ratio (58.4%) is considered high.
Reducing Debt: SMU.UN's debt to equity ratio has reduced from 130.9% to 58.4% over the past 5 years.
Debt Coverage: SMU.UN's debt is not well covered by operating cash flow (6.9%).
Interest Coverage: SMU.UN's interest payments on its debt are well covered by EBIT (3.4x coverage).
What is Summit Industrial Income REIT current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SMU.UN's dividend (2.95%) is higher than the bottom 25% of dividend payers in the Canadian market (1.57%).
High Dividend: SMU.UN's dividend (2.95%) is low compared to the top 25% of dividend payers in the Canadian market (4.53%).
Stability and Growth of Payments
Stable Dividend: SMU.UN's dividend payments have been volatile in the past 10 years.
Growing Dividend: SMU.UN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (66.5%), SMU.UN's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Paul Dykeman (60 yo)
Mr. Paul Malcolm Dykeman, CPA, CA, serves as the Chief Executive Officer of Sigma Real Estate Advisors LLP. Mr. Dykeman has been the Chief Executive Officer and President of Summit Industrial Income REIT s...
CEO Compensation Analysis
Compensation vs Market: Paul's total compensation ($USD796.96K) is below average for companies of similar size in the Canadian market ($USD3.01M).
Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.
Experienced Management: SMU.UN's management team is seasoned and experienced (8.9 years average tenure).
Experienced Board: SMU.UN's board of directors are considered experienced (7.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 22.1%.
Summit Industrial Income REIT's company bio, employee growth, exchange listings and data sources
- Name: Summit Industrial Income REIT
- Ticker: SMU.UN
- Exchange: TSX
- Founded: 2005
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: CA$3.223b
- Shares outstanding: 168.56m
- Website: https://www.summitIIreit.com
- Summit Industrial Income REIT
- 75 Summerlea Road
- Unit B
- L6T 4V2
Summit Industrial Income REIT is an unincorporated open-end REIT focused on growing and managing a portfolio of light industrial and other properties across Canada. Summit II's units are listed on the TSX ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/08/04 23:10|
|End of Day Share Price||2021/08/04 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.