Summit Industrial Income REIT Unit SMMCF

trade halted????

[chronictat]

SMU.UN   RT   H

11.650

please please no more share offering....

[MOJOJONO]

I don't think it was halted on past share issuances. Anyways think about it. It's hit record highs since past issuances as they have been successfully growing their company. could be major acquisition they're doing, asset sale, or... (On selfish side because I want a good steady stream of distributions) they are getting acquired.

[Trashenstein09]

new to this board. Luckily got in at $7.20 in late 2017. I wonder if commercial Riocan is planning a play for this.

[MOJOJONO]

Hmmmm any reason why you would think mm Riocan? The common reference is the summit mgmt has track record with selling their company. Rei + SMU are different real estate companies. Rei is moving to residential as an add on to commercial tier 1 properties. Don't think they'd want to cross lines into SMU.

[fauxtomato]

I think it's unlikely another publicly traded REIT would acquire SMU as it trades at a premium multiple. It would be hard to make an accretive acquisition at current pricing. Any acquirer would have to be someone with enough capital and patience to appreciate the double digit rent increases over the next several years, and the discount to replacement value.. That'd have to be private

[deornoth667]

I sold at 11.96 yesterday, I’ve held the stock for years as well but it’s time to move on at these levels.   I’m sure I’ll have Capital losses in other areas that I can use to offset the tax burden.  I doubt there’s much price growth from here at these levels and the dividend is now below its peers.

[Dominotia]

Is it externally or internally managed?

[MOJOJONO]

looks like they're buying out their external management with cash, debt, and equity financing @ $11.25. Good in long run. Retain fees in-house.

[chronictat]

not a bad move at all. no more external fees + all managers are still in place.

[MOJOJONO]

yea, unlocks a little more value. I've seen other real estates/REITs of mine internalize as well over the last year. IIP.un and SVI

[chronictat]

IIP is a good buy. I wish i have mroe money back then....I had to choose between SMU or IIP. Luckily it paid off nicely.