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WPT Industrial Real Estate Investment Trust Announces May 2020 Distribution

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TORONTO, May 19, 2020 (GLOBE NEWSWIRE) — WPT Industrial Real Estate Investment Trust (the “REIT”) (TSX: WIR.U; WIR.UN) (OTCQX: WPTIF) announced today that its Board of Trustees has declared a cash distribution for the month of May 2020 of US$0.0633 per unit. The distribution will be payable on June 15, 2020 to unitholders of record as of the close of business on May 29, 2020.

Distributions paid to Canadian unitholders (and other non-U.S. unitholders) generally will be subject to U.S. withholding tax. For a general summary of the taxation of distributions paid to Canadian unitholders, including information regarding U.S. withholding tax, please see the “Certain Canadian Federal Income Tax Considerations”, “Certain U.S. Federal Income Tax Considerations” sections of the REIT’s prospectus dated April 18, 2013, and “Risk Factors – Tax-Related Risks” in the REIT’s most recently filed annual information form, copies of which are available on the SEDAR website at www.sedar.com.  Additional tax information regarding the REIT’s distributions is also available on the REIT’s website at www.wptreit.com.  Unitholders should consult their own tax advisors for advice with respect to the tax consequences of receiving a distribution from the REIT in their own circumstances.

About WPT Industrial Real Estate Investment Trust

WPT Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT acquires, develops, and manages industrial properties located in the United States, with a particular focus on warehouse and distribution properties. WPT Industrial, LP (the REIT’s operating subsidiary) indirectly owns a portfolio of properties across 20 states in the United States consisting of approximately 31.8 million square feet of gross leasable area, comprised of 100 industrial properties.

For further information, please contact:

Scott Frederiksen, Chair and Chief Executive Officer
WPT Industrial REIT
Tel: (612) 800-8501

 

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My 2020 Investment Lesson: The Peril of Overconfidence – Morningstar.ca

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My Belief
On Feb. 19, 2020, the S&P 500 closed at a record high. It then dropped by 34% over the next five weeks.

That loss did not surprise me. By late February 2020, Japan had announced that it would close its schools for the following four weeks. Shortly thereafter, the Italian government locked down one fourth of the country. Clearly, those stoppages were merely the beginning of the economic problems; the rest of the developed world would soon follow suit. Such shutdowns would cause financial carnage.

Economists then were talking mostly about second-quarter effects, but I thought that the damage would linger. The global economy would not return to full strength for many months, if not years. What’s more, I knew that over the past century, the S&P 500 had declined by more than 30% on five occasions, without once reaching its previous high within the next 18 months. Sure, stocks would eventually rebound–they always do–but surely the process would be halting.

At best, I figured, U.S. equities would bounce about their March lows. At worst, they would fall further. Either way, the next bull market wouldn’t arrive anytime soon. Those with faith in their hearts and cash in their wallets need not rush to invest. There would be plenty of opportunity to buy stocks at their new, lower prices. Of this I was as certain as I have ever been about the investment markets.

Reality Intrudes
Pride goeth before destruction, and a haughty spirit before the fall. Never had I been so confident in my stock-market expectations–and rarely had I been so wrong. The S&P 500 immediately staged a powerful rally, surpassing its previous high by August, then adding another 15% during the next six months. Not only had I not envisioned such an event, I had not even imagined it.

The problem wasn’t with what I knew. My economic forecast was correct. As I had expected, although third- and fourth-quarter gross domestic product rebounded from second-quarter levels, they remained below that of the first quarter. The destruction wrought by COVID-19 on both economic output and employment exceeded that which had been forecast in March. Neither was my stock-market history faulty. The numbers were accurate.

But for other reasons, this time was different. During previous bear markets, stocks would rally briefly, then retreat as sellers appeared, seeking to profit from the temporarily higher prices. Two steps forward, one step back. In 2020, though, the optimists overwhelmed the pessimists. Rapidly, investors worried not about being caught by the market’s retreat, but instead forgoing its gains.

Why Equities Recovered
The market’s resilience owed to three primary causes, each of which I had considered. But I had not realized their full implications.

1)     Structural Strength

Demand shocks, such as that caused by the COVID-19 virus, shove teetering economies over the edge. If the system is wobbly, because corporations are overinvested, or consumers heavily indebted, or banks poorly capitalized, then the shock reverberates. The effect spreads far beyond its original impact.

Such was not the case in 2020. Although the economy was in its 11th year of expansion, companies were not extended, because they (somewhat notoriously) had cut back on their capital investments. Neither were consumers. Adjusted for inflation, mortgage debt was well below its 2007 peak, and delinquency rates on other forms of consumer debt had declined. Finally, banks had greatly improved their balance sheets since the global financial crisis.  

This isn’t, of course, to deny that tens of millions of households have suffered from COVID-19-related slowdowns. However, those problems have not caused systemic failures. Few large companies have been forced to declare bankruptcy, and the banks remain solvent.

2)     Federal Intervention

The U.S. government’s response to slumping stock prices was swift and powerful. The Federal Reserve promptly slashed short-term interest rates to just above zero, while announcing that it would purchase an unprecedented variety of investments. Meanwhile, U.S. Congress passed the US$2.2 trillion CARES Act. With each financial crisis, the government intervenes ever more aggressively.

Whether such intercessions courted future disaster, by suggesting to equity investors that federal officials would inevitably rescue them, has been hotly debated. What isn’t up for question are those actions’ immediate effects. By flooding money into the system, the government raised stock-market demand, and thus succeeded in its attempt to support equity prices.

3)     Weak Competition

Low interest rates stimulate spending economic activity, but they wouldn’t much help stock prices if bond yields were steep. Last March, the dividend yield on S&P 500 stocks hit 2.3%–modestly above its recent averages, which have hovered near 2%, but not attractive by historical standards. However, with yields on 10-year U.S. Treasuries dropping as low as 0.60%, that dividend payout was relatively high.

Quietly, 10-year yields have doubled since that time, while those of 30-year bonds have climbed above 2%. With the stock-dividend rate shrinking due to market gains, the income from holding equities now roughly matches that of investing in Treasuries. So far, stocks have resisted the challenge from rising bond yields, but if fixed-income yields keep increasing, they eventually will buckle.

Last spring, I realized that almost nobody can successfully forecast the direction of the stock market. Over the years, I had seen enough market-timers and tactical allocators fail to appreciate the enormity of the task. I also recognized that economists have enough difficulty estimating the next quarter’s GDP growth, never mind what will occur in 12 months’ time.

Yet, despite my experience, I deceived myself into believing that I possessed special insight. That happened because the market behaved as I expected during the early days of the COVID-19 crisis, thereby leading me to overestimate my abilities. It mattered not if I understood the problem relatively well. To make an accurate prediction–one that would benefit an investment–my understanding needed to be deeper yet.

Thinking through market conditions is a useful exercise. Better to suffer investment losses that were at least partially anticipated than to have them come as a complete surprise. Beware, however, the danger of taking such analysis too seriously. My self-belief was greater than my insights. In making that mistake, I am far from alone.

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Citi's Head of Hong Kong Investment Banking Leaves Firm – Yahoo Canada Finance

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GlobeNewswire

Worldwide security robot market size to boom at 8% CAGR through 2027

The business intelligence report on ‘Global Security Robot Market’ provides valuable insights pertaining to growth catalysts and profitable opportunities dormant in the industry space, while emphasizing on challenges that can be converted into prospects, and restraints which are to be tackled.Selbyville, Delaware, March 02, 2021 (GLOBE NEWSWIRE) — Credible estimates cite that global security robot market size was worth USD 2.2 billion in 2019, and this valuation is predicted to surge at 8% CAGR over 2020-2027, reaching USD 4 billion by the end of forecast period. Apart from COVID-19 impact scrutiny, the report offers thorough summary of various market segments, including type gamut, application scope, as well as end-use ambit. Information with respect to regional market is entailed, which is inclusive of favorable scenario and contribution towards industry remuneration. Moreover, competitive dashboard, with detailed attention to business profile, product portfolio, and moneymaking strategies of different industry players is expounded in the report. Improved robot capabilities on account of insertion of different sensors, introduction of neural network technology, along with ability of constant learning and providing consistent data are bolstering the deployment of security robots across military & defense as well as commercial segments. Huge budgets for military & defense, in tandem with increasing territorial conflicts and geopolitical uncertainties are augmenting the growth of global security robot industry. Request Sample copy of this Report @ https://www.marketstudyreport.com/request-a-sample/3357880/ Citing an instance, Indian government allocated USD 73.65 billion as defense budget in 2020-2021, which 5.8% higher than 2019-2020. Likewise, the U.S. defense allotment was USD 671 billion in 2021 as compared to USD 665 billion in 2020. For the record, security robots are next-gen technology, meant to replace security personnel. They move around specified & constrained areas while delivering mobile CCTV monitoring. Video from in-built cameras is sent to security station, hence providing footage and enabling informed action. Speaking of roadblocks, strict regulatory scenario, as well as individual preference for maintaining their privacy and avoid intrusion will arrest the global security robot market expansion. Enlisting market segmentations: As per type, the market is classified into autonomous underwater vehicles, unmanned ground vehicles, and unmanned aerial vehicles. Various applications of security robots include rescue operations, patrolling, explosive detection, spying, and others. While different end-users are commercial, residential, and defense & military. Summarizing regional terrain: Industry experts claim that North America led the global security robot market forecast in the past year, owing to existence of renowned technology providers in the region, alongside widespread deployment of these robots. Parallelly, Asia Pacific market is reckoned to record a strong CAGR through 2027, attributable to surge in terrorist attacks at public places, and government emphasis on improving the security across emerging economies like India and China. To access a sample copy or view this report in detail along with the table of contents, please click the link below: https://www.marketstudyreport.com/reports/global-security-robot-market-size-research Global Security Robot Market by Type (Revenue, USD Billion, 2017-2027) Autonomous Underwater VehiclesUnmanned Ground VehiclesUnmanned Aerial Vehicles Global Security Robot Market Application Spectrum (Revenue, USD Billion, 2017-2027) Rescue OperationsPatrollingExplosive DetectionSpyingOthers Global Security Robot Market End-User Ambit (Revenue, USD Billion, 2017-2027) CommercialResidentialMilitary & Defense Global Security Robot Market Regional Landscape (Revenue, USD Billion, 2017-2027) Latin America MexicoBrazil Europe ItalyGermanyFranceSpainUKRoE North America USCanada Asia Pacific South KoreaAustraliaIndiaJapanChinaRoAPAC RoW Global Security Robot Market Competitive Backdrop (Revenue, USD Billion, 2017-2027) Cobham Ltd.SMP Robotics Systems Corp.Knightscope Inc.AeroVironment Inc.Leonardo S.p.A.Elbit Systems Ltd.BAE Systems plcThales GroupNorthrop Grumman Corp.Lockheed Martin Corp. Table of Content: Chapter 1. Executive Summary 1.1. Market Snapshot 1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion) 1.2.1. Security Robot Market, by Region, 2018-2027 (USD Billion) 1.2.2. Security Robot Market, by Type, 2018-2027 (USD Billion) 1.2.3. Security Robot Market, by Application, 2018-2027 (USD Billion) 1.2.4. Security Robot Market, by End-Use Industry, 2018-2027 (USD Billion) 1.3. Key Trends 1.4. Estimation Methodology 1.5. Research Assumption Chapter 2. Global Security Robot Market Definition and Scope 2.1. Objective of the Study 2.2. Market Definition & Scope 2.2.1. Scope of the Study 2.2.2. Industry Evolution 2.3. Years Considered for the Study 2.4. Currency Conversion Rates Chapter 3. Global Security Robot Market Dynamics 3.1. Security Robot Market Impact Analysis (2018-2027) 3.1.1. Market Drivers 3.1.2. Market Challenges 3.1.3. Market Opportunities Chapter 4. Global Security Robot Market Industry Analysis 4.1. Porter’s 5 Force Model 4.2. PEST Analysis 4.2.1. Political 4.2.2. Economical 4.2.3. Social 4.2.4. Technological 4.3. Investment Adoption Model 4.4. Analyst Recommendation & Conclusion Chapter 5. Global Security Robot Market, by Type 5.1. Market Snapshot 5.2. Global Security Robot Market by Type, Performance – Potential Analysis 5.3. Global Security Robot Market Estimates & Forecasts by Type 2017-2027 (USD Billion) 5.4. Security Robot Market, Sub Segment Analysis 5.4.1. Unmanned Aerial Vehicles 5.4.2. Unmanned Ground Vehicles 5.4.3. Autonomous Underwater Vehicles Chapter 6. Global Security Robot Market, by Application 6.1. Market Snapshot 6.2. Global Security Robot Market by Application, Performance – Potential Analysis 6.3. Global Security Robot Market Estimates & Forecasts by Application 2017-2027 (USD Billion) 6.4. Security Robot Market, Sub Segment Analysis 6.4.1. Spying 6.4.2. Explosive Detection 6.4.3. Patrolling 6.4.4. Rescue Operations 6.4.5. Others Chapter 7. Global Security Robot Market, by End-Use Industry 7.1. Market Snapshot 7.2. Global Security Robot Market by End-Use Industry – Potential Analysis 7.3. Global Security Robot Market Estimates & Forecasts by End-Use Industry 2017-2027 (USD Billion) 7.4. Security Robot Market, Sub Segment Analysis 7.4.1. Defense and Military 7.4.2. Residential 7.4.3. Commercial Chapter 8. Global Security Robot Market, Regional Analysis Related Report: Robot End-Effector Market Size, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025 Robot End-Effector Market is expected to exceed USD 6.5 billion by 2025, as per new research report. The advent of industry 4.0 in manufacturing industry which includes the inclusion of technological trends such as cloud robotics, automation, cyber-physical systems, big data, and IoT is driving the demand for advanced end-effectors. The usage of these advanced technologies is anticipated to drive up production, improve efficiency, by transfer computational and decision-making powers to robotics systems. Factors such as growing deployment of collaborative robots, increasing implementation of robots in the logistics industry for pick & place operations, decreasing cost of sensors etc. is augmenting the robot end-effector market growth. About US: Market Study Report, LLC. is a hub for market intelligence products and services. We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place. Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company’s core activities. If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives. CONTACT: Contact Us: Corporate Sales, Market Study Report LLC Phone: 1-302-273-0910 Toll Free: 1-866-764-2150 Email: sales@marketstudyreport.com News: http://business-newsupdate.com/

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Reflecting on Pro Real Estate Investment Trust's (TSE:PRV.UN) Share Price Returns Over The Last Year – Simply Wall St

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Passive investing in an index fund is a good way to ensure your own returns roughly match the overall market. When you buy individual stocks, you can make higher profits, but you also face the risk of under-performance. For example, the Pro Real Estate Investment Trust (TSE:PRV.UN) share price is down 14% in the last year. That falls noticeably short of the market return of around 17%. At least the damage isn’t so bad if you look at the last three years, since the stock is down 8.6% in that time.

See our latest analysis for Pro Real Estate Investment Trust

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

Unhappily, Pro Real Estate Investment Trust had to report a 23% decline in EPS over the last year. The share price fall of 14% isn’t as bad as the reduction in earnings per share. So despite the weak per-share profits, some investors are probably relieved the situation wasn’t more difficult.

The company’s earnings per share (over time) is depicted in the image below (click to see the exact numbers).

earnings-per-share-growth

TSX:PRV.UN Earnings Per Share Growth March 1st 2021

We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here..

What About Dividends?

As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Pro Real Estate Investment Trust the TSR over the last year was -4.8%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!

A Different Perspective

While the broader market gained around 17% in the last year, Pro Real Estate Investment Trust shareholders lost 4.8% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 13% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Take risks, for example – Pro Real Estate Investment Trust has 4 warning signs (and 1 which is concerning) we think you should know about.

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CA exchanges.

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This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
*Interactive Brokers Rated Lowest Cost Broker by StockBrokers.com Annual Online Review 2020

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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