Westshore Terminals Investment Corp T.WTE

Alternate Symbol(s): WTSHF

Industrials Shipping & Ports

Westshore Terminals Investment Corporation is a Canada-based company, which owns all of the limited partnership units of Westshore Terminals Limited Partnership (Westshore). The Company invests in Westshore by way of distributions on Westshore's limited partnership units. Westshore operates a coal storage and unloading/loading facility at Roberts Bank, British Columbia. Westshore receives handling charges from its customers for throughput volume. Coal is delivered to the Terminal in unit trains operated by Canadian Pacific Railway, BNSF Railway, and Canadian National Railway. The product is unloaded and either directly loaded onto a ship or stockpiled for future ship loading. The loaded ships are then destined around the globe to approximately 20 different countries. Westar Management Ltd. (the Manager) provides management services to Westshore and administrative services to the Company. The manager also provides insurance and vehicle leasing services to the Company.

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Westshore Terminals Investment Corp > Trevor Rose's Insights - HOLD

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Post by Possibleidiot01on Jul 06, 2024 12:00am

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Post# 36120856

Trevor Rose's Insights - HOLD

HOLD

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

De-globalization is an issue, as WTE's port facility is a major route to Asia. But we think on-shoring is mostly for industrial companies, and we are not particularly concerned about commodity shipment declining in volume. WTE has a nice advantage in location, but it should be considered an income, not a growth, stock. Yield is 6.5% and may vary. It has paid three special dividends in the last four years as well (totalling $2.35 per share). The balance sheet is OK but growth is low. EPS for 2025 is expected to be $1.56, slightly less than it was in 2016. We would consider it 'ok' but not really exciting. But for income investors willing to hold a smaller, somewhat cyclical company, we think it would be suitable.
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