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Granite Real Estate Investment Trust (GRT.UN $76.50)
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Dream Industrial Real Estate Investment Trust (DIR.UN $12.03)
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Nexus Industrial REIT (NXR.UN $7.47)
Q: Appreciated your recent report on DIR. I am a long-term holder, and always thinking of adding more. It does seem to have been a bit challenged in the last year or two, and wondering how that compares to its' peers in industrial warehousing? Your report lists the peers as Prologis, yes, but also StorageVault (which I thought was primarily personal storage units) and Riocan, which is primary retail. What am I missing? Aren't there other industrial warehousing companies you can use for a more accurate comparison?
Thank-you
Thank-you
5i Research Answer:
Nexus (NXR.U) and Granite (GRT.U) would be two other companies to consider. Performance has been similar across the three as are valuations. Growth at DIR is expected to be a bit higher in the mid to high single digits giving it a bit of an edge in our view.