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Summit Industrial Income REIT Management

Management criteria checks 3/4

Key information

Paul Dykeman

Chief executive officer

CA$1.0m

Total compensation

CEO salary percentage	100.0%
CEO tenure	10.4yrs
CEO ownership	1.0%
Management average tenure	10.4yrs
Board average tenure	2.1yrs

Recent management updates

Recent updates

Is Summit Industrial Income REIT's (TSE:SMU.UN) Latest Stock Performance Being Led By Its Strong Fundamentals?

Jan 13

CEO Compensation Analysis

How has Paul Dykeman's remuneration changed compared to Summit Industrial Income REIT's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2022	n/a	n/a	CA$822m
Sep 30 2022	n/a	n/a	CA$493m
Jun 30 2022	n/a	n/a	CA$706m
Mar 31 2022	n/a	n/a	CA$1b
Dec 31 2021	CA$1m	CA$1m	CA$1b
Sep 30 2021	n/a	n/a	CA$1b
Jun 30 2021	n/a	n/a	CA$889m
Mar 31 2021	n/a	n/a	CA$296m
Dec 31 2020	CA$1m	CA$1m	CA$207m
Sep 30 2020	n/a	n/a	CA$177m
Jun 30 2020	n/a	n/a	CA$243m
Mar 31 2020	n/a	n/a	CA$180m
Dec 31 2019	CA$1m	CA$1m	CA$148m
Sep 30 2019	n/a	n/a	CA$141m
Jun 30 2019	n/a	n/a	CA$46m
Mar 31 2019	n/a	n/a	CA$165m
Dec 31 2018	CA$476k	CA$300k	CA$180m
Sep 30 2018	n/a	n/a	CA$152m
Jun 30 2018	n/a	n/a	CA$152m
Mar 31 2018	n/a	n/a	CA$83m
Dec 31 2017	CA$250k	CA$250k	CA$63m
Sep 30 2017	n/a	n/a	CA$41m
Jun 30 2017	n/a	n/a	CA$35m
Mar 31 2017	n/a	n/a	CA$26m
Dec 31 2016	CA$200k	CA$200k	CA$24m

Compensation vs Market: Paul's total compensation ($USD742.00K) is below average for companies of similar size in the Canadian market ($USD3.31M).

Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.

CEO

Paul Dykeman (61 yo)

10.4yrs

Tenure

CA$1,000,000

Compensation

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...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Paul Dykeman	CEO, President & Trustee	10.4yrs	CA$1.00m	0.98% CA$ 43.5m
Ross Drake	Chief Financial Officer	10.4yrs	CA$890.00k	0.047% CA$ 2.1m
Dayna Gibbs	Chief Operating Officer	2.4yrs	CA$890.00k	no data
Jonathan Robbins	Senior Vice President of Investments	no data	CA$890.00k	0.093% CA$ 4.2m
Kimberley Hill	Senior Vice President of Asset Management	11.1yrs	CA$890.00k	0.0094% CA$ 420.3k
Chris Rodgers	Vice President of Investments	no data	no data	no data

10.4yrs

Average Tenure

Experienced Management: SMU.UN's management team is seasoned and experienced (10.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Paul Dykeman	CEO, President & Trustee	10.4yrs	CA$1.00m	0.98% CA$ 43.5m
Robert Hynes	Independent Trustee	less than a year	no data	0.0053% CA$ 234.4k
Lawrence Morassutti	Independent Trustee	9.8yrs	CA$104.55k	0.071% CA$ 3.2m
Louis Maroun	Independent Chairman	10.4yrs	CA$125.00k	2.91% CA$ 129.5m
Scott Frederiksen	Independent Trustee	less than a year	no data	no data
A. McLellan	Independent Director	2.1yrs	CA$81.25k	0.000050% CA$ 2.2k
Jo-Ann Lempert	Independent Director	1.8yrs	CA$58.96k	0.0012% CA$ 53.9k

2.1yrs

Average Tenure

61yo

Average Age

Experienced Board: SMU.UN's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.

This company listing is no longer active

Summit Industrial Income REIT Management

Management criteria checks 3/4

Key information

Recent management updates

Independent Trustee recently sold CA$82m worth of stock

Independent Trustee recently bought CA$187k worth of stock

Independent Trustee recently bought CA$165k worth of stock

Summit Industrial Income REIT, Annual General Meeting, May 11, 2022

Chief Financial Officer recently sold CA$1.5m worth of stock

Independent Trustee recently bought CA$265k worth of stock

Recent updates

GIC Real Estate Pte Ltd. and Dream Industrial Real Estate Investment Trust (TSX:DIR.UN) completed the acquisition of Summit Industrial Income REIT (TSX:SMU.UN)

Full year 2022 earnings released: EPS: CA$4.40 (vs CA$6.64 in FY 2021)

Independent Trustee recently sold CA$82m worth of stock

Third quarter 2022 earnings released: EPS: CA$0.21 (vs CA$1.49 in 3Q 2021)

GIC Real Estate Pte Ltd. and Dream Industrial Real Estate Investment Trust (TSX:DIR.UN) entered into an agreement to acquire Summit Industrial Income REIT (TSX:SMU.UN) for CAD 5.9 billion.

Investor sentiment improved over the past week

GIC Real Estate Pte Ltd. and Dream Industrial Real Estate Investment Trust (TSX:DIR.UN) entered into an agreement to acquire Summit Industrial Income REIT (TSX:SMU.UN).

Now 20% undervalued after recent price drop

Upcoming dividend of CA$0.048 per share

Summit Industrial Income REIT Announces October 2022 Cash Distribution, Payable on November 15, 2022

Summit Industrial Income REIT to Report Q3, 2022 Results on Nov 09, 2022

Summit Industrial Income REIT Announces September 2022 Cash Distribution, Payable on October 14, 2022

Independent Trustee recently bought CA$187k worth of stock

Summit Industrial Income REIT Announces Cash Distribution, Payable on September 15, 2022

Second quarter 2022 earnings released

Upcoming dividend of CA$0.048 per share

Summit Industrial Income REIT Announces July 2022 Cash Distribution, Payable on August 15, 2022

Summit Industrial Income REIT to Report Q2, 2022 Results on Aug 09, 2022

Summit Industrial Income REIT (TSX:SMU.UN) acquired remaining 50% in stake in Light Industrial Property in the Hanlon Creek Business Park in Guelph, Ontario.

Upcoming dividend of CA$0.048 per share

Summit Industrial Income REIT Announces Cash Distribution for June 2022, Payable on July 15, 2022

Upcoming dividend of CA$0.048 per share

Summit Industrial Income REIT Announces Increase in Monthly Cash Distributions

First quarter 2022 earnings released: EPS: CA$1.36 (vs CA$0.79 in 1Q 2021)

Now 24% undervalued after recent price drop

Upcoming dividend of CA$0.047 per share

Summit Industrial Income REIT Announces April 2022 Cash Distribution, Payable on May 13, 2022

Independent Trustee recently bought CA$165k worth of stock

An unknown buyer acquired 44,000 Square Feet in Acheson, Alberta from Summit Industrial Income REIT (TSX : SMU.UN) for CAD 7.1 million.

Upcoming dividend of CA$0.047 per share

Now 22% undervalued after recent price drop

Summit Industrial Income REIT, Annual General Meeting, May 11, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Summit Industrial Income Reit Announces Cash Distribution for February 2022, Payable on March 15, 2022

Now 20% undervalued after recent price drop

Summit Industrial Income REIT (TSX:SMU.UN) acquired remaining 50% stake in Two Properties in Hanlon Creek Business Park in Guelph, Ontario from Cooper Construction Limited for CAD 54.9 million.

Chief Financial Officer recently sold CA$1.5m worth of stock

Upcoming dividend of CA$0.047 per share

Third quarter 2021 earnings released: EPS CA$1.49 (vs CA$0.30 in 3Q 2020)

Independent Trustee recently bought CA$265k worth of stock

Summit Industrial Income REIT has completed a Follow-on Equity Offering in the amount of CAD 110.143 million.

Upcoming dividend of CA$0.047 per share

Price target increased to CA$21.03

Second quarter 2021 earnings released: EPS CA$3.68 (vs CA$0.18 in 2Q 2020)

Upcoming dividend of CA$0.047 per share

Upcoming dividend of CA$0.047 per share

Price target increased to CA$16.58

Lead Independent Trustee has left the company

Summit Industrial Income REIT Announces May 2021 Cash Distribution, Payable on June 15, 2021

First quarter 2021 earnings released: EPS CA$0.79 (vs CA$0.31 in 1Q 2020)

Summit Industrial Income REIT Announces May 2021 Distribution

Upcoming Dividend of CA$0.045 Per Share

Summit Industrial Income REIT Announces March 2021 Cash Distribution, Payable on April 15, 2021

Independent Trustee recently bought CA$56k worth of stock

Full year 2020 earnings released: FFO CA$0.65 per share (vs CA$0.58 in FY 2019)

Revenue beats expectations

Summit Industrial Income REIT, Annual General Meeting, May 12, 2021

New 90-day high: CA$14.20

Summit Industrial Income REIT to Report Q4, 2020 Results on Feb 17, 2021

Is Summit Industrial Income REIT's (TSE:SMU.UN) Latest Stock Performance Being Led By Its Strong Fundamentals?

CEO, President & Trustee recently bought CA$130k worth of stock

Summit Industrial Income REIT Appoints Honourable A. Anne Mclellan to Its Board of Trustees, Effective January 1, 2021

Summit Industrial Income REIT has completed a Follow-on Equity Offering in the amount of CAD 170.01075 million.

Independent Trustee recently bought CA$135k worth of stock

Third quarter 2020 earnings released: EPS CA$0.30

Revenue beats expectations

Summit Industrial Income REIT (TSX:SMU.UN) completed the acquisition of remaining 50% stake in Portfolio of eleven light industrial in Montreal from Le Groupe Montoni Division Construction Inc.

New 90-day high: CA$13.40