Second stock in the clip. GLTA
https://www.bnnbloomberg.ca/video/andrew-moffs-top-picks~2372663
Dream Industrial REIT (DIR-U TSX)
The REIT’s focus on “last-mile” urban logistics space is well-suited to meet the growing needs of e-commerce distribution as consumers shift towards a sustained increase in online shopping on a long-term basis. As a result, same-property NOI, on a constant currency basis, grew by 7.5 per cent year-over-year in Q3 2021 as pricing power persists in historically tight supply-demand conditions.
A key differentiator for DIR is its presence in mainland Europe, a market with limited supply sites, compounded by complex zoning laws that may inhibit development. European consumers have significantly lagged the U.S. in its adoption of e-commerce to date, and as their economic activity in this space accelerates, so to should upward pressure on industrial rents.
The REIT also benefits from a relative borrowing advantage as European interest rates remain anchored well below North America, which has resulted in DIR operating with a weighted average interest rate below 0.86 per cent reported at the end of Q3.
Today, we estimate DIR trades at a 16 per cent discount to its NAV, whereas its U.S.-listed peers trade at a significant premium.
TOP PICK
Dream Industrial REIT(DIR.UN-T)
30/01/2022 at 07:00pm
Is in industrial warehouse space in U.S., Canada and Europe with Europe being the most exciting. A good place to be because of e-commerce and the theme 'less miles delivery'.
REAL ESTATE
Andrew Moffs
$15.770
Owned