Looking for an apartment? If you live in Canada, chances are you may have rented a place from this company, which is now the third largest residential REIT in Canada. This stock yields 8%, with a conservative payout ratio of 71%. It had a big acquisition in late 2015 that's already accretive, with a good supply of more deals available to help grow its dividends. It's selling below book value and has ample debt coverage.
In October 2015, Northview (which was formerly known as Northern Property REIT), acquired True North Corp., and also acquired a large portfolio of 4,650 multi-family units from Starlight Investments Ltd., changing the name of the new entity to Northview Apartment Real Estate Trust. Another plus from the deal is that it lessened the company's exposure to resource areas, shrinking its western Canada exposure to 22%, and gaining them a 27% NOI presence in Ontario. Like many of the stocks in our recent articles, this is a monthly dividend-paying stock. It trades in the US on the OTC under NPRUF and on the Toronto Exchange under the ticker (NVU.UN).
Source: Seeking Alpha
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