Summit Industrial Income REIT Unit T.SMU.UN

BMO analyst update

[CanSiamCyp]

Marketing Takeaways: Onwards and Upwards;Increasing Target Price to $18.50
 

Bottom Line:
 

Last week, we hosted Summit Industrial Income REIT's management team forvirtual meetings with Canadian and U.S. institutional investors. Discussions weremainly focused on where SMU.UN sees the most attractive growth opportunities (viaacquisitions or developments), supply and demand dynamics in the REIT's core markets,and the strength and flexibility of the REIT's balance sheet. Based on our expectationsfor strong fundamental tailwinds over the near term, we maintain our Outperformrating and have raised our target price to $18.50.