Best REIT Stocks In Canada For May 2023

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Dividend Earner

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Looking for some REIT stocks for your portfolio? Want the best REITs? The reality is that REITs can have different business goals and therefore more than one can fit your portfolio thus allowing you to better diversify your portfolio.

In general, you are looking for income with a REIT stock and not a growth stock like Netflix, Amazon or Shopify. During your search for income, don’t ignore the potential for income growth to keep up with inflation.

While the largest REIT is Canadian Apartment Properties REIT, it might not be the best fit for your portfolio. The best REITs to invest in Canada for a good and safe income would be CT REIT. So you see, the largest REIT isn’t always the best.

The last thing you want is a REIT that pays the same income year after year as it means you actually make less due to inflation.

Now, you might not be aware but there are over 34 Canadian REITs trading on the Toronto Stock Exchange (TSX). However, only 20 have a market capitalization above $1B (Covid-19 and the recession impacted the value).

Continue reading but out of the 34 REITs, I have selected the top 4 in no particular order.

  1. CT REIT – Retail REIT – The stength is that the tenants are mostly businesses from Canadian Tire Corporation and your thesis should hinge on the strength of Canadian Tire Corporation.
  2. InterRent REIT – Residential REIT – The rental market is strong due to high prices of home ownership and immagration is also strong.
  3. Granite REIT – Industrial REIT – A diversified portfolio across 7 countries providing space for big corporations.
  4. Canadian Apartment Properties REIT – Residential REIT – The rental market is strong due to high prices of home ownership and immagration is also strong.

List of all Canadian REITs

Let’s start by looking at the full list of REITs and then drill down from there. The Canadian REIT sector has 7 industries to which a REIT belongs to based on the services they provide.

Knowing the industry they serve is quite important as it highlights what can influence their business.

I admit that I was pretty surprised to find this many REITs in total. That’s a lot of real estate income trusts to filter through.

The list below for reference is sorted by market capitalization rather than yield. A REIT has a high yield just by the nature of the REIT and I am not looking for the REIT that pays the most but the REIT that will serve me best in the following criteria:

  • [Quantitative] Decent Income Distribution – Between 4% and 6%
  • [Quantitative] Consistent Payout – 3, 5 and 10 year averages should be consistent
  • [Quantitative] Distribution Growth Potential – At or above inflation is good enough for a REIT
  • [Qualitative] Stock Growth Potential – Can it grow and what is the strategy?

Most Canadian REIT investors will have the same criteria with different priorities but they are pretty standard. Below is the breakdown of all Canadian REITs by industries.

TickerKey Ticker Company Sector Industry Score Quote Market Cap P/E FPE EPS Yield PayoutRatio Payments Annual Distribution Chowder GrowthRating IncomeRating Tollbooth Ambassador Achiever Aristocrat King Country Graph SectorID IndustryID Grade MarketCapGroup
TSE:CAR.UN CAR.UN Canadian Apartment Properties REIT Real Estate REIT - Residential 34.85 50.71 8.49 0.00 0.00 0.00 2.8600 0.0000 12 1.45 5.0900 5 3 Tollbooth - Unregulated NO YES YES NO Canada 1 10 83 D Mid Cap
TSE:REI.UN REI.UN RioCan Real Estate REIT - Retail 34.21 20.27 6.08 31.62 31.62 0.00 5.3300 160.3800 12 1.08 5.3300 1 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 D Mid Cap
TSE:GRT.UN GRT.UN Granite REIT Real Estate REIT - Industrial 45.04 83.73 5.34 0.00 0.00 0.00 3.8200 0.0000 12 3.20 7.1100 6 3 Tollbooth - Unregulated YES YES YES NO Canada 1 10 81 C Mid Cap
TSE:CHP.UN CHP.UN Choice Properties REIT Real Estate REIT - Retail 49.58 13.63 4.47 15.71 15.71 0.00 5.5000 38.6600 12 0.75 5.5000 3 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 C Mid Cap
TSE:SMU.UN SMU.UN Summit Industrial Income REIT Real Estate REIT - Industrial 23.65 23.22 4.41 8.77 8.77 0.00 0.0000 21.3700 12 0.00 0.0000 2 1 Tollbooth - Unregulated NO NO NO NO Canada 1 10 81 D Mid Cap
TSE:SRU.UN SRU.UN SmartCentres REIT Real Estate REIT - Retail 45.90 25.56 3.70 14.96 14.96 0.00 7.2400 87.1200 12 1.85 8.8800 2 5 Tollbooth - Unregulated NO NO YES NO Canada 1 10 84 C Mid Cap
TSE:DIR.UN DIR.UN Dream Industrial Real Estate REIT - Industrial 40.99 14.10 3.63 15.74 15.74 0.00 4.9600 73.5200 12 0.70 4.9600 3 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 81 C Mid Cap
TSE:FCR.UN FCR.UN First Capital REIT Real Estate REIT - Retail 29.31 15.07 3.20 0.00 0.00 0.00 5.7300 0.0000 12 0.86 5.7300 1 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 D Mid Cap
TSE:AP.UN AP.UN Allied Properties REIT Real Estate REIT - Office 51.34 22.79 2.92 0.00 0.00 0.00 7.9000 0.0000 12 1.80 10.4100 5 6 Tollbooth - Unregulated NO NO YES NO Canada 1 10 82 B Mid Cap
TSE:BEI.UN BEI.UN Boardwalk REIT Real Estate REIT - Residential 27.29 61.50 2.81 7.70 7.70 0.00 1.9000 11.4400 12 1.17 1.9000 1 2 Tollbooth - Unregulated NO NO NO NO Canada 1 10 83 D Mid Cap
TSE:HR.UN HR.UN H&R REIT Real Estate REIT - Diversified 28.85 10.53 2.80 0.00 0.00 0.00 5.7000 0.0000 12 0.60 5.7000 1 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Mid Cap
TSE:CSH.UN CSH.UN Chartwell Retirement Residences Real Estate REIT - Healthcare Facilities 46.32 9.08 2.16 81.25 81.25 0.00 6.7400 540.7600 12 0.61 8.0000 4 5 Tollbooth - Unregulated NO NO YES NO Canada 1 10 80 C Mid Cap
TSE:KMP.UN KMP.UN Killam Apartment REIT Real Estate REIT - Residential 45.91 17.85 2.09 14.25 14.25 0.00 3.9200 51.5700 12 0.70 5.7700 4 3 Tollbooth - Unregulated NO NO YES NO Canada 1 10 83 C Mid Cap
TSE:IIP.UN IIP.UN InterRent REIT Real Estate REIT - Residential 54.78 13.42 1.91 21.11 21.11 0.00 2.6800 53.6900 12 0.36 8.9900 7 3 Tollbooth - Unregulated YES YES YES NO Canada 1 10 83 B Small Cap
TSE:NWH.UN NWH.UN Northwest Healthcare Properties REIT Real Estate REIT - Healthcare Facilities 38.48 7.51 1.81 0.00 0.00 0.00 10.6500 0.0000 12 0.80 10.6500 3 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 80 D Small Cap
TSE:CRT.UN CRT.UN CT REIT Real Estate REIT - Retail 60.42 15.16 1.64 35.93 35.93 0.00 5.7200 67.0100 12 0.87 9.5800 7 4 Tollbooth - Unregulated NO NO YES NO Canada 1 10 84 B Small Cap
TSE:CRR.UN CRR.UN Crombie REIT Real Estate REIT - Diversified 34.96 14.46 1.53 214.48 214.48 0.00 6.1600 1313.1500 12 0.89 6.1600 1 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Small Cap
TSE:PMZ.UN PMZ.UN Primaris REIT Real Estate REIT - Retail 29.89 12.98 1.25 0.00 0.00 0.00 6.3100 0.0000 12 0.82 6.3100 1 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 D Small Cap
TSE:AX.UN AX.UN Artis REIT Real Estate REIT - Diversified 28.83 7.10 0.80 0.00 0.00 0.00 8.4500 0.0000 12 0.60 8.4500 2 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Small Cap
TSE:SGR.UN SGR.UN Slate Grocery REIT Real Estate REIT - Retail 40.79 12.93 0.78 6.66 6.66 0.00 8.9700 58.4700 12 0.86 9.8700 2 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 C Small Cap
TSE:D.UN D.UN Dream Office REIT Real Estate REIT - Office 30.77 14.60 0.65 70.95 70.95 0.00 6.8500 364.1100 12 1.00 6.8500 1 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 82 D Small Cap
TSE:MRG.UN MRG.UN Morguard North American Residential REIT Real Estate REIT - Residential 42.36 16.74 0.65 11.87 11.87 0.00 4.3000 31.0900 12 0.72 6.1300 2 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 83 C Small Cap
TSE:MI.UN MI.UN Minto Apartment REIT Real Estate REIT - Residential 68.40 14.70 0.59 3.54 3.54 0.00 3.3300 11.5500 12 0.49 42.6500 8 3 Tollbooth - Unregulated NO NO YES NO Canada 1 10 83 A Small Cap
TSE:NXR.UN NXR.UN Nexus Industrial REIT Real Estate REIT - Industrial 56.62 8.71 0.59 6.46 6.46 0.00 7.3400 36.9500 12 0.64 7.3400 4 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 81 B Small Cap
TSE:APR.UN APR.UN Automotive Properties REIT Real Estate REIT - Diversified 51.63 11.57 0.46 8.07 8.07 0.00 6.9500 45.2200 12 0.80 6.9500 4 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 B Small Cap
TSE:PLZ.UN PLZ.UN Plaza Retail REIT Real Estate REIT - Retail 44.02 4.01 0.44 11.52 11.52 0.00 6.9800 79.6600 12 0.28 6.9800 2 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 C Small Cap
TSE:MRT.UN MRT.UN Morguard REIT Real Estate REIT - Diversified 20.88 5.45 0.35 0.00 0.00 0.00 4.4000 0.0000 12 0.24 4.4000 1 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Small Cap
TSE:PRV.UN PRV.UN PROREIT Real Estate REIT - Diversified 51.54 5.19 0.31 6.28 6.28 0.00 8.6700 52.0800 12 0.45 8.6700 4 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 B Small Cap
TSE:BTB.UN BTB.UN BTB REIT Real Estate REIT - Diversified 44.08 3.26 0.28 6.86 6.86 0.00 9.2000 63.0100 12 0.30 9.2000 3 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 C Micro Cap
TSE:TNT.UN TNT.UN True North Commercial REIT Real Estate REIT - Diversified 49.71 2.56 0.24 25.52 25.52 0.00 11.6300 600.7700 12 0.30 11.6300 5 8 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 C Micro Cap
TSE:FCD.UN FCD.UN Firm Capital Property Trust Real Estate REIT - Diversified 51.06 5.40 0.20 0.00 0.00 0.00 9.6300 0.0000 12 0.52 13.1300 7 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 B Micro Cap
TSE:HOT.UN HOT.UN American Hotel Income Properties REIT Real Estate REIT - Hotel & Motel 32.08 2.51 0.20 0.00 0.00 0.00 9.6300 0.0000 12 0.18 9.6300 2 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 121 D Micro Cap
TSE:MPCT.UN MPCT.UN Dream Impact Trust REIT Real Estate REIT - Diversified 32.74 2.57 0.18 0.00 0.00 -0.70 6.2100 0.0000 12 0.16 6.2100 2 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Micro Cap
TSE:SOT.UN SOT.UN Slate Office REIT Real Estate REIT - Diversified 31.91 2.07 0.17 0.00 0.00 0.00 5.8000 0.0000 12 0.12 5.8000 2 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Micro Cap
TSE:INO.UN INO.UN Inovalis REIT Real Estate REIT - Office 31.77 3.42 0.11 0.00 0.00 0.00 12.0600 0.0000 12 0.41 12.0600 2 8 Tollbooth - Unregulated NO NO NO NO Canada 1 10 82 D Micro Cap
TSE:MR.UN MR.UN Melcor REIT Real Estate REIT - Diversified 41.72 4.91 0.06 8.78 8.78 0.00 9.7800 15.6300 12 0.48 9.7800 3 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 C Micro Cap
TSE:HRR.UN HRR.UN Australian REIT Income Real Estate REIT - Specialty 30.96 8.72 0.01 0.00 0.00 0.00 7.5700 0.0000 12 0.66 7.5700 1 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 85 D Micro Cap

REIT Stocks vs REIT ETFs

There aren’t that many REIT stocks in Canada and you may be tempted to assess a REIT ETF as an alternative.

It really depends on what you are looking for. I usually find that investors who look into REITs are chasing the yield … Is that you?

If you chase yield, consider Covered Call ETFs as you may have less risk than exposing your portfolio to a small cap REIT.

Picking the BEST Canadian REITs

To find the best Canadian REITs fitting my criteria, I choose to go through the following steps.

  • Sort the REITs based on the Chowder Score (Yield and Dividend Growth)
  • Sort the REITs by Dividend Increases (Consistency in dividend increases is good)

I am favoring residential REIT due to the shortage of homes and high immigration.

Narrow Down Your Canadian REITs

I decided to eliminate the little players. They may well have a lot of growth but I want an established REIT of at least $1B in market capitalization. With that criteria, they can have funds to expand and play in the big cities. That leaves us with the following REITs.

While the largest REIT in Canada might not be the best, many are small and brings small cap exposure to your portfolio. It might not be what you want.

Ticker Ticker Company Market Cap P/E Yield Aristocrat Graph SectorID IndustryID
CAR.UN TSE:CAR.UN Canadian Apartment Properties REIT 8.49 0.00 2.86 YES 1 10 83
REI.UN TSE:REI.UN RioCan 6.08 31.62 5.33 NO 1 10 84
GRT.UN TSE:GRT.UN Granite REIT 5.34 0.00 3.82 YES 1 10 81
CHP.UN TSE:CHP.UN Choice Properties REIT 4.47 15.71 5.50 NO 1 10 84
SMU.UN TSE:SMU.UN Summit Industrial Income REIT 4.41 8.77 0.00 NO 1 10 81
SRU.UN TSE:SRU.UN SmartCentres REIT 3.70 14.96 7.24 YES 1 10 84
DIR.UN TSE:DIR.UN Dream Industrial 3.63 15.74 4.96 NO 1 10 81
FCR.UN TSE:FCR.UN First Capital REIT 3.20 0.00 5.73 NO 1 10 84
AP.UN TSE:AP.UN Allied Properties REIT 2.92 0.00 7.90 YES 1 10 82
BEI.UN TSE:BEI.UN Boardwalk REIT 2.81 7.70 1.90 NO 1 10 83
HR.UN TSE:HR.UN H&R REIT 2.80 0.00 5.70 NO 1 10 120
CSH.UN TSE:CSH.UN Chartwell Retirement Residences 2.16 81.25 6.74 YES 1 10 80
KMP.UN TSE:KMP.UN Killam Apartment REIT 2.09 14.25 3.92 YES 1 10 83
IIP.UN TSE:IIP.UN InterRent REIT 1.91 21.11 2.68 YES 1 10 83
NWH.UN TSE:NWH.UN Northwest Healthcare Properties REIT 1.81 0.00 10.65 NO 1 10 80
CRT.UN TSE:CRT.UN CT REIT 1.64 35.93 5.72 YES 1 10 84
CRR.UN TSE:CRR.UN Crombie REIT 1.53 214.48 6.16 NO 1 10 120
PMZ.UN TSE:PMZ.UN Primaris REIT 1.25 0.00 6.31 NO 1 10 84

For the purpose of my selection, I will go with $1B as a minimum market capitalization. I am going to exclude the industrial REIT industry as I don’t understand that industry. For example, the healthcare REIT industry is also not an industry I understand.

There is definitely a growing market but I am not sure how the business model works. It leaves me with the list below sorted by market capitalization.

Ticker Ticker Company Market Cap P/E Yield Aristocrat Graph SectorID IndustryID
CAR.UN TSE:CAR.UN Canadian Apartment Properties REIT 8.49 0.00 2.86 YES 1 10 83
REI.UN TSE:REI.UN RioCan 6.08 31.62 5.33 NO 1 10 84
CHP.UN TSE:CHP.UN Choice Properties REIT 4.47 15.71 5.50 NO 1 10 84
SRU.UN TSE:SRU.UN SmartCentres REIT 3.70 14.96 7.24 YES 1 10 84
FCR.UN TSE:FCR.UN First Capital REIT 3.20 0.00 5.73 NO 1 10 84
AP.UN TSE:AP.UN Allied Properties REIT 2.92 0.00 7.90 YES 1 10 82
BEI.UN TSE:BEI.UN Boardwalk REIT 2.81 7.70 1.90 NO 1 10 83
HR.UN TSE:HR.UN H&R REIT 2.80 0.00 5.70 NO 1 10 120
KMP.UN TSE:KMP.UN Killam Apartment REIT 2.09 14.25 3.92 YES 1 10 83
IIP.UN TSE:IIP.UN InterRent REIT 1.91 21.11 2.68 YES 1 10 83
CRT.UN TSE:CRT.UN CT REIT 1.64 35.93 5.72 YES 1 10 84
CRR.UN TSE:CRR.UN Crombie REIT 1.53 214.48 6.16 NO 1 10 120
PMZ.UN TSE:PMZ.UN Primaris REIT 1.25 0.00 6.31 NO 1 10 84

Compare Your Selected Canadian REITs

Now comes the hard part. The easy filtering is done. I could easily remove those with a yield under 4% but I am curious if they grow their yield and what the properties actually are.

If you have Wal-Mart as a renter, the chances of long-term business are much stronger than having an arbitrary small business. Personally, I have invested in both REI.UN and CUF.UN in the past. See my portfolio holdings for details.

The TOP 4 Canadian REITs

Note that to screen stocks for income require unique dividend data. Not many screeners focus on dividend data and dividend stength. You should consider a screener such as Dividend Snaspshot Screeners.

Granite REIT

Granite REIT engages in the acquisition, development, and management of industrial properties in North America and Europe. Its portfolio consists of various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.

Logistics and distribution warehouses and multipurpose buildings constitute the majority of its assets. Granite REIT is a spin-off of Magna International which still continues to be its major tenant.

Magna accounts for ~60% of Granite’s total revenues. Granite REIT has a diversified yet balanced geographical presence in Canada (26% of revenue), U.S. (31%), Austria (27%), and Europe (15%). It owns 85 investment properties with 33 million square feet of leasable area.

Key Investment Data

  • Ticker: TSE:grt.UN
  • Sector: Real Estate
  • Industry: REIT - Industrial
  • Market Cap: 5.34B
  • Market Cap Group: Mid Cap
  • P/E: 0.00
  • Dividend Yield: 3.82%

InterRent REIT

InterRent operates as owners and property managers of homes for more than 12,000 Canadian households and growing. They are a passionate group of individuals who work as a team and are encouraged to use their voices to have a positive impact in their communities. The demand for rental apartments is consistently strong, stemming from a variety of factors including improved youth employment and an aging Canadian population, and exceedingly high net international migration.

The company’s focus is to expand in the core markets of GTA, Montreal, the National Capital Region, and relating markets. Areas are selected based on their ability to meet the following parameters and contribute to the REIT’s growth-oriented strategy. Healthy economical regional centres & neighbourhoods; regions that have stable employment profiles derived from strong and sustainable industries and are expected to have continued population growth. 

The management of environmental, social, and governance (ESG) topics is truly woven in the fabric of their day to day. They are passionate about implementing sustainable projects and their objective is to pursue pilots to reduce their environmental impacts. These initiatives benefit their residents, provide development opportunities for their teams, and help to safeguard their environment through lower energy consumption, better water and waste management, and reduced GHG emissions.

Their social objective is to offer an unsurpassed resident experience. They believe that dealing with people is the heart of any business, and this is especially true in the multi-family sector since their business impacts someone’s home. To maintain the confidence of investors and properly oversee the activities of management, adopting and upholding high standards of governance practices are essential.

Key Investment Data

  • Ticker: TSE:iip.UN
  • Sector: Real Estate
  • Industry: REIT - Residential
  • Market Cap: 1.91B
  • Market Cap Group: Small Cap
  • P/E: 21.11
  • Dividend Yield: 2.68%

Canadian Apartment Properties REIT

Canadian Apartment Properties or CAPREIT is a growth-oriented investment trust. The REIT invests in residential properties, including apartment buildings, townhouses and land lease communities located in close proximity to major urban cities across Canada.

It is the largest Canadian REIT by market capitalization value. As Canada’s largest multi-family residential REIT, Canadian Apartment owns interests in more than 51,000 residential units, comprising 44,000+ residential suites and 32 manufactured home communities.

It also has land lease sites located near major urban areas across Canada and The Netherlands. Canadian Apartment has a good mix of properties across affordable, mid-tier and luxury sectors which offer diversification of income. CAPREIT is best known for its quality portfolio.

Key Investment Data

  • Ticker: TSE:car.UN
  • Sector: Real Estate
  • Industry: REIT - Residential
  • Market Cap: 8.49B
  • Market Cap Group: Mid Cap
  • P/E: 0.00
  • Dividend Yield: 2.86%

Allied Properties REIT

Allied owns 160 urban properties (132 rental properties, eight development properties, and 11 ancillary parking facilities) spanning across 11 million square feet in Canada. Its portfolio comprises of a balanced mix of new and historical buildings.

The firm focuses on urban intensification and has a presence in Canada’s major cities such as Toronto, Montreal, Calgary, Vancouver, Ottawa, Edmonton, and Kitchener. Allied’s segments can be divided into urban data centers (18% of 2018 NOI), western (12%), eastern (25%) and central (45%).

Office space accounts for a larger portion of its NOI at nearly 69%, followed by urban data centers (18%), retail (8%) and parking (5%). Allied also has a subsidiary, Allied Properties Management LP which provides property management and other fee-based services.

Key Investment Data

  • Ticker: TSE:ap.UN
  • Sector: Real Estate
  • Industry: REIT - Office
  • Market Cap: 2.92B
  • Market Cap Group: Mid Cap
  • P/E: 0.00
  • Dividend Yield: 7.90%

Canadian REIT ETFs

If you find it too difficult to invest in a specific REIT, you can always buy a Canadian REIT ETF. Be sure to look at their holdings as they may only hold a subset of the REITs.

  • iShares S&P/TSX Capped REIT Index Fund 
  • BMO Equal Weight REITs Index ETF 
  • Vanguard FTSE Canadian Capped REIT Index ETF 

The above mentioned ETFs are probably the best Canadian REIT ETFs at this point in time. However, be on the lookout as most financial institutions are entering the ETF market and they should all be creating their own in due time.

Canadian REITs Summary

I will admit that it’s impressive to see the number of REITs available in Canada. I was pretty surprised at the business of H&R REIT with their corporate tenants. In the past, when I first purchased REITs, I had no understanding of the AFFO and since I learned about that metric, it changed how I evaluate REITs forever.

You HAVE to read their financial report for the year-end. It’s not just raw numbers. It highlights their businesses and strength. You get to understand the strength of their sector.

Which is the best Canadian REITs? Well, it really depends on your goals. Do you want to see dividend growth? Some of them have it. Do you want to only pick below 90% AFFO payout? Some of them fit the bill. Do you want to see growth in value? Some of them have it. Do you want high income? Some of them have it.

As you can see, there isn’t just one Best Canadian REIT. There is a best Canadian REIT for your portfolio based on your criteria. Are you nearing retirement? Are you starting and diversifying?

If you are new to REIT investing, you need to understand REIT taxation prior to making a purchase. The account you decided to use has a big tax impact.