Favourable macro trends are providing a nice tailwind to the Western Australia-based logistics company and its shares hit a more than two-year high of $1.10 on Thursday. CTI Logistics is in a strong position to develop industrial sites for its own use as opposed to just being a tenant because banks are more willing to extend loans to owner-occupiers rather than property developers. Further, a robust rebound in global trade and the expected resumption of the commodities-fuelled boom should also place CTI in a good light with bankers as well as shareholders. The company is building a transport and logistics hub on a four hectare site in Hazelmere it bought recently for $7.9 million as its other facilities are operating at full capacity. The stock is trading on a current price/earnings multiple of about 11 times – a 31 per cent discount to other small-cap stocks – although getting in and out of the stock could prove a challenge as its top three shareholders control about 70 per cent of the highly illiquid stock.