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WPT Industrial Real Estate Investment Trust (T:WIR.U)

Business Focus: Industrial REITs

Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEDAR
Company Contact
Address: Commerce Court West Suite 4000
Stn Commerce Court
PO Box 25
Tel: N/A
IR: See website
Key People
Scott T. Frederiksen
Chairman of the Board of Trustee, Chief Executive Officer
Judd Korey Gilats
Chief Financial Officer
Matthew J. Cimino
Chief Operating Officer, General Counsel
Business Overview
WPT Industrial Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. The REIT is engaged in the business of acquiring and owning industrial investment properties located in the United States. Its objective is to provide Unitholders with an opportunity to invest in a portfolio of institutional-quality industrial properties in the United States markets, with a particular focus on distribution industrial real estate. The United States industrial real estate sector consists primarily of single-story properties located in or near major cities. The REIT's portfolio is concentrated in the Midwestern and Southeastern regions of the United States. It owns a portfolio of investment properties consisting of approximately 15.1 million square feet of gross leasable area (GLA), consisting of over 50 industrial investment properties and approximately two office properties, located in over 10 states in the United States.
Financial Overview
For the nine months ended 30 September 2019, WPT Industrial Real Estate Investment revenues increased 25% to $86.3M. Net income increased from $35.4M to $71.6M. Revenues reflect Investment properties revenue increase of 22% to $83.2M, Management fee revenue increase from $1.1M to $3.1M. Net income benefited from Net Operating Income (NOI) - Total increase of 22% to $61.1M, FV Adjustments on Investment Property increase from $16.2M to $51.5M
Employees: 22 as of Dec 31, 2018
Reporting Currency: U.S. Dollars
Enterprise value: $1,441M as of Sep 30, 2019
Annual revenue (TTM): $112.53M as of Sep 30, 2019
EBITDA (TTM): $70.01M as of Sep 30, 2019
Net annual income (TTM): $86.88M as of Sep 30, 2019
Free cash flow (TTM): $27.98M as of Sep 30, 2019
Net Debt Last Fiscal Year: $748.73M as of Sep 30, 2019
Shares outstanding: 64,376,838 as of Nov 28, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization