Best Canadian REIT Stocks: 4 Solid REITs for August 2022

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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 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 51.17 42.10 7.22 11.65 11.65 0.00 3.4400 39.8800 12 1.45 5.6800 5 3 Tollbooth - Unregulated NO YES YES NO Canada 1 10 83 B Mid Cap
TSE:REI.UN REI.UN RioCan Real Estate REIT - Retail 39.66 18.62 5.65 9.99 9.99 0.00 5.4800 52.5600 12 1.02 5.4800 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 64.90 66.67 4.36 3.85 3.85 0.00 4.6500 17.6500 12 3.10 7.9300 6 7 Tollbooth - Unregulated YES YES YES NO Canada 1 10 81 B Mid Cap
TSE:CHP.UN CHP.UN Choice Properties REIT Real Estate REIT - Retail 43.86 12.59 4.13 24.25 24.25 0.00 5.8800 64.5200 12 0.74 5.8800 3 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 C Mid Cap
TSE:SRU.UN SRU.UN SmartCentres REIT Real Estate REIT - Retail 48.55 25.95 3.75 4.06 4.06 0.00 7.1300 25.8200 12 1.85 8.7700 2 5 Tollbooth - Unregulated NO NO YES NO Canada 1 10 84 C Mid Cap
TSE:AP.UN AP.UN Allied Properties REIT Real Estate REIT - Office 61.47 27.36 3.50 6.43 6.43 0.00 6.3900 39.8900 12 1.75 8.9000 5 5 Tollbooth - Unregulated NO NO YES NO Canada 1 10 82 B Mid Cap
TSE:SMU.UN SMU.UN Summit Industrial Income REIT Real Estate REIT - Industrial 47.97 17.11 3.25 4.35 4.35 0.00 3.3900 14.4200 12 0.58 3.3900 3 3 Tollbooth - Unregulated NO NO YES NO Canada 1 10 81 C Mid Cap
TSE:FCR.UN FCR.UN First Capital REIT Real Estate REIT - Retail 34.68 15.12 3.24 15.72 15.72 0.00 5.7100 44.5500 12 0.86 5.7100 1 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 D Mid Cap
TSE:HR.UN HR.UN H&R REIT Real Estate REIT - Diversified 40.12 10.40 2.77 2.07 2.07 0.00 5.2800 14.1500 12 0.55 5.2800 1 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 C Mid Cap
TSE:DIR.UN DIR.UN Dream Industrial Real Estate REIT - Industrial 51.15 10.73 2.74 2.81 2.81 0.00 6.5200 17.1400 12 0.70 6.5200 3 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 81 B Mid Cap
TSE:NWH.UN NWH.UN Northwest Healthcare Properties REIT Real Estate REIT - Healthcare Facilities 50.38 10.60 2.54 5.62 5.62 0.00 7.5500 44.5300 12 0.80 7.5500 2 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 80 B Mid Cap
TSE:CSH.UN CSH.UN Chartwell Retirement Residences Real Estate REIT - Healthcare Facilities 45.68 9.29 2.19 125.08 125.08 0.00 6.5900 3233.7200 12 0.61 7.8500 4 5 Tollbooth - Unregulated NO NO YES NO Canada 1 10 80 C Mid Cap
TSE:BEI.UN BEI.UN Boardwalk REIT Real Estate REIT - Residential 31.88 46.26 2.12 3.73 3.73 0.00 2.3300 8.0600 12 1.08 2.3300 1 2 Tollbooth - Unregulated NO NO NO NO Canada 1 10 83 D Mid Cap
TSE:KMP.UN KMP.UN Killam Apartment REIT Real Estate REIT - Residential 51.84 15.25 1.77 6.91 6.91 0.00 4.5900 28.8500 12 0.70 6.4400 4 4 Tollbooth - Unregulated NO NO YES NO Canada 1 10 83 B Small Cap
TSE:IIP.UN IIP.UN InterRent REIT Real Estate REIT - Residential 61.87 11.47 1.62 4.38 4.38 0.00 2.9800 12.5400 12 0.34 9.2900 6 3 Tollbooth - Unregulated YES YES YES NO Canada 1 10 83 B Small Cap
TSE:CRT.UN CRT.UN CT REIT Real Estate REIT - Retail 59.12 15.01 1.61 28.18 28.18 0.00 5.7800 52.1300 12 0.87 9.6400 6 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 34.65 14.26 1.49 327.21 327.21 0.00 6.2400 2562.3500 12 0.89 6.2400 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 33.45 12.79 1.28 0.00 0.00 0.00 6.2600 0.0000 12 0.80 6.2600 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 46.18 9.49 1.10 3.83 3.83 0.00 6.3200 127.2700 12 0.60 6.3200 2 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 C Small Cap
TSE:SGR.UN SGR.UN Slate Grocery REIT Real Estate REIT - Retail 33.72 13.15 0.77 0.00 0.00 0.00 9.0900 42.8700 12 0.86 9.9900 2 6 Tollbooth - Unregulated NO NO YES NO Canada 1 10 84 D Small Cap
TSE:D.UN D.UN Dream Office REIT Real Estate REIT - Office 43.53 16.28 0.76 3.77 3.77 0.00 6.1400 19.2600 12 1.00 6.1400 1 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 82 C Small Cap
TSE:MRG.UN MRG.UN Morguard North American Residential REIT Real Estate REIT - Residential 43.77 15.35 0.60 1.74 1.74 0.00 4.5600 5.0900 12 0.70 6.3800 2 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 83 C Small Cap
TSE:APR.UN APR.UN Automotive Properties REIT Real Estate REIT - Diversified 51.86 13.25 0.53 6.39 6.39 0.00 6.0700 30.9900 12 0.80 6.0700 3 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 B Small Cap
TSE:MI.UN MI.UN Minto Apartment REIT Real Estate REIT - Residential 69.91 12.90 0.52 1.55 1.55 0.00 3.6800 5.6600 12 0.48 43.0000 8 3 Tollbooth - Unregulated NO NO NO NO Canada 1 10 83 A Small Cap
TSE:TNT.UN TNT.UN True North Commercial REIT Real Estate REIT - Diversified 54.90 5.61 0.50 7.70 7.70 0.00 10.5900 80.8500 12 0.59 10.5900 5 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 B Small Cap
TSE:NXR.UN NXR.UN Nexus Industrial REIT Real Estate REIT - Industrial 57.47 8.36 0.49 5.01 5.01 0.00 7.6500 25.6200 12 0.64 7.6500 4 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 81 B Small Cap
TSE:PLZ.UN PLZ.UN Plaza Retail REIT Real Estate REIT - Retail 47.43 3.92 0.40 3.95 3.95 0.00 7.1400 28.2000 12 0.28 7.1400 2 5 Tollbooth - Unregulated NO NO NO NO Canada 1 10 84 C Small Cap
TSE:SOT.UN SOT.UN Slate Office REIT Real Estate REIT - Diversified 45.91 4.35 0.35 4.79 4.79 0.00 9.1900 39.2700 12 0.40 9.1900 3 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 C Small Cap
TSE:PRV.UN PRV.UN PROREIT Real Estate REIT - Diversified 58.11 5.72 0.34 2.73 2.73 0.00 7.8700 19.7400 12 0.45 7.8700 4 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 B Small Cap
TSE:MRT.UN MRT.UN Morguard REIT Real Estate REIT - Diversified 32.37 5.18 0.33 6.84 6.84 0.00 4.6300 21.9300 12 0.24 4.6300 1 4 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Small Cap
TSE:BTB.UN BTB.UN BTB REIT Real Estate REIT - Diversified 45.78 3.19 0.27 4.39 4.39 0.00 9.4000 41.0800 12 0.30 9.4000 3 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 C Micro Cap
TSE:MPCT.UN MPCT.UN Dream Impact Trust REIT Real Estate REIT - Diversified 44.13 4.09 0.27 8.90 8.90 0.46 9.7800 43.5400 12 0.40 9.7800 3 7 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 54.60 5.80 0.22 59.31 59.31 0.00 8.9600 1261.8600 12 0.52 12.4600 7 6 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 35.32 2.80 0.22 25.89 25.89 0.00 8.8900 80.4100 12 0.18 8.8900 2 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 121 D Micro Cap
TSE:INO.UN INO.UN Inovalis REIT Real Estate REIT - Office 33.77 4.24 0.14 21.49 21.49 0.00 9.7400 429.2700 12 0.41 9.7400 2 7 Tollbooth - Unregulated NO NO NO NO Canada 1 10 82 D Micro Cap
TSE:MR.UN MR.UN Melcor REIT Real Estate REIT - Diversified 35.53 5.75 0.07 20.19 20.19 0.00 8.3500 25.3500 12 0.48 8.3500 2 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 120 D Micro Cap
TSE:HRR.UN HRR.UN Australian REIT Income Real Estate REIT - Specialty 29.46 8.10 0.01 0.00 0.00 0.00 8.1500 0.0000 12 0.66 8.1500 2 6 Tollbooth - Unregulated NO NO NO NO Canada 1 10 85 D Micro Cap

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)

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.

Ticker Ticker Company Market Cap P/E Yield Aristocrat Graph SectorID IndustryID
CAR.UN TSE:CAR.UN Canadian Apartment Properties REIT 7.22 11.65 3.44 YES 1 10 83
REI.UN TSE:REI.UN RioCan 5.65 9.99 5.48 NO 1 10 84
GRT.UN TSE:GRT.UN Granite REIT 4.36 3.85 4.65 YES 1 10 81
CHP.UN TSE:CHP.UN Choice Properties REIT 4.13 24.25 5.88 NO 1 10 84
SRU.UN TSE:SRU.UN SmartCentres REIT 3.75 4.06 7.13 YES 1 10 84
AP.UN TSE:AP.UN Allied Properties REIT 3.50 6.43 6.39 YES 1 10 82
SMU.UN TSE:SMU.UN Summit Industrial Income REIT 3.25 4.35 3.39 YES 1 10 81
FCR.UN TSE:FCR.UN First Capital REIT 3.24 15.72 5.71 NO 1 10 84
HR.UN TSE:HR.UN H&R REIT 2.77 2.07 5.28 NO 1 10 120
DIR.UN TSE:DIR.UN Dream Industrial 2.74 2.81 6.52 NO 1 10 81
NWH.UN TSE:NWH.UN Northwest Healthcare Properties REIT 2.54 5.62 7.55 NO 1 10 80
CSH.UN TSE:CSH.UN Chartwell Retirement Residences 2.19 125.08 6.59 YES 1 10 80
BEI.UN TSE:BEI.UN Boardwalk REIT 2.12 3.73 2.33 NO 1 10 83
KMP.UN TSE:KMP.UN Killam Apartment REIT 1.77 6.91 4.59 YES 1 10 83
IIP.UN TSE:IIP.UN InterRent REIT 1.62 4.38 2.98 YES 1 10 83
CRT.UN TSE:CRT.UN CT REIT 1.61 28.18 5.78 YES 1 10 84
CRR.UN TSE:CRR.UN Crombie REIT 1.49 327.21 6.24 NO 1 10 120
PMZ.UN TSE:PMZ.UN Primaris REIT 1.28 0.00 6.26 NO 1 10 84
AX.UN TSE:AX.UN Artis REIT 1.10 3.83 6.32 NO 1 10 120

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 7.22 11.65 3.44 YES 1 10 83
REI.UN TSE:REI.UN RioCan 5.65 9.99 5.48 NO 1 10 84
CHP.UN TSE:CHP.UN Choice Properties REIT 4.13 24.25 5.88 NO 1 10 84
SRU.UN TSE:SRU.UN SmartCentres REIT 3.75 4.06 7.13 YES 1 10 84
AP.UN TSE:AP.UN Allied Properties REIT 3.50 6.43 6.39 YES 1 10 82
FCR.UN TSE:FCR.UN First Capital REIT 3.24 15.72 5.71 NO 1 10 84
HR.UN TSE:HR.UN H&R REIT 2.77 2.07 5.28 NO 1 10 120
BEI.UN TSE:BEI.UN Boardwalk REIT 2.12 3.73 2.33 NO 1 10 83
KMP.UN TSE:KMP.UN Killam Apartment REIT 1.77 6.91 4.59 YES 1 10 83
IIP.UN TSE:IIP.UN InterRent REIT 1.62 4.38 2.98 YES 1 10 83
CRT.UN TSE:CRT.UN CT REIT 1.61 28.18 5.78 YES 1 10 84
CRR.UN TSE:CRR.UN Crombie REIT 1.49 327.21 6.24 NO 1 10 120
PMZ.UN TSE:PMZ.UN Primaris REIT 1.28 0.00 6.26 NO 1 10 84
AX.UN TSE:AX.UN Artis REIT 1.10 3.83 6.32 NO 1 10 120

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 Best 4 Canadian REITs

1. CT REIT

CT Real Estate Investment Trust is an unincorporated, closed end real estate investment trust formed to own income producing commercial properties primarily located in Canada.

Its portfolio is comprised of over 350 retail properties, four industrial properties, one mixed-use commercial property, and one development property totaling approximately 29 million square feet of GLA. CT REIT is Canada’s premier net lease REIT and creates long-term value for unitholders by growing its portfolio of income producing properties and development projects, benefiting from its relationship with its most significant tenant and controlling unitholder, Canadian Tire Corporation (CTC).

CTC is a strong investment grade tenant, with annual rental growth built into long term leases. CT REIT benefits from CTC’s understandings of the continually evolving retail marketplace, helping to shape their strategy and guide their plans.

A very meaningful portion of growth is contractually built into CT REIT's structure through rent escalations and preferred access to additional properties required to support CTC's ongoing business requirements. This close association and alignment between them is a competitive differentiator that provides important insight into potential real estate acquisitions and development opportunities.

Additionally, located in each province and two territories, CT REIT’s properties are situated in highly desirable retail locations. Many are conveniently located near high traffic routes, highly visible from the street, easy to access, and have ample parking. The properties are geographically diverse with more than two-thirds of CT REIT’s rent coming from properties in large urban markets.

Key Investment Data

  • Ticker: TSE:crt.UN
  • Sector: Real Estate
  • Industry: REIT - Retail
  • Market Cap: 1.61B
  • Market Cap Group: Small Cap
  • P/E: 28.18
  • Dividend Yield: 5.78%

2. 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: 1.62B
  • Market Cap Group: Small Cap
  • P/E: 4.38
  • Dividend Yield: 2.98%

3. 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: 4.36B
  • Market Cap Group: Mid Cap
  • P/E: 3.85
  • Dividend Yield: 4.65%

4. 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: 7.22B
  • Market Cap Group: Mid Cap
  • P/E: 11.65
  • Dividend Yield: 3.44%

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.

Build Your OWN Top List

My portfolio is generating over 12% annual returns since 2009. It's not from the beginning of the year or from 2019, it's from 2009 !!! That's a consistent return which means using the rule of 72, I double my portfolio every 6 years.

My approach is simple but you need key data that I have cultivated with the Dividend Snapshot Screeners. No other investment services provide you with easy to understand data but also actionable data. No hidden magic.

In fact, I have tried all of the investment services for dividend investors like a crash test dummy of investment services. Just ask me, and you'll learn why there was nothing I could use out there and build the Dividend Snapshot Screeners.

DISCLOSURE: Please note that I may have a position in one or many of the holdings listed. For a complete list of my holdings, please see my Dividend Portfolio.

DISCLAIMER: Please note that this blog post represents my opinion and not an advice/recommendation. I am not a financial adviser, I am not qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Make your investment decisions at your own risk – see my full disclaimer for more details.