Quality tenants underpin this REIT: Choice Properties

Article Excerpt

We have selected Choice Properties REIT as one of our three top picks for 2021 (BCE and Pfizer are the other two picks). The units held up well last year—and the trust maintained its distributions—despite retail shutdowns due to COVID-19. That’s mainly because its high-quality tenants, such as supermarkets and pharmacies, remained open as “essential” businesses. The REIT is also adding new residential properties, which further cuts your risk. CHOICE PROPERTIES REIT $14 is a top pick for 2021. Canada’s biggest REIT (Toronto symbol CHP.UN; Cyclical-Growth Payer Portfolio; Manufacturing & Industry sector; Units outstanding: 707.8 million; Market cap: $9.9 billion; Distribution yield: 5.3%; Dividend Sustainability Rating: Above Average; www.choicereit.ca) creates value for investors through its 731 properties, with 66.1 million square feet of retail, industrial and office space. Investors also benefit from its high 97.1% occupancy rate. George Weston Ltd. (Toronto symbol WN) owns 61.9% of the trust. Choice pays you monthly distributions of $0.061667 a unit. The annual rate of $0.74 yields a high 5.3%. The…