- Canadian Apartment Properties (CAP) REIT share: Dividend yield: 2.57%. Dividend payout ratio: 18.20%. Market Cap: $ 9.38 billion.
CAP REIT is one of the largest REITs in Canada. The company owns approximately 65,000 rental apartments, townhouse suites and prefabricated houses in Canada, Ireland and the Netherlands. It’s a robust TSX performer that had record sales in 2020, but also a much smaller decline during the recession than the broader market decline. It increased its revenue again in 2021. CAP’s geographic diversity helped isolate it.
- InterRent REIT share: dividend yield: 1.82%. Dividend payout ratio: 9.26%. Market Cap: $ 2.18 billion.
InterRent is looking for problematic properties with below-average management, outdated units or major renovation and restoration needs. It buys them at a big discount and beautifies them to bring them up to a higher standard. The business model is risky, but the company mitigates the risks and continues to grow. It was one of the best performing stocks on the TSX, with good investor returns.
- Boardwalk REIT: dividend yield: 3.41%. Dividend payout ratio: 133.44%. Market Cap: $ 1.46 billion.
Boardwalk offers homes in more than 200 communities with more than 33,000 units. It is a mid-cap residential REIT with a longstanding reputation for high letting rates, steady growth and overall exemplary success. It had some trouble a few years ago when Alberta was overexposed and those markets collapsed with the drop in oil prices. However, since then it has diversified its portfolio, sold its non-core assets, and diversified its overall holdings to build a more reliable reputation in the industry.