High-Dividend Stock Yields 8%, Pays Monthly, Has Strong Growth, Under Book Value

Foreign shares usually give you some diversification from US assets, but they'll also give some currency exchange risk, so your monthly payouts will vary according to the current Canadian/US currency exchange rate. This stock yields 8.4% with a conservative payout ratio of 74% for the past four quarters. Its big 2015 acquisition has created huge growth in 2016: Revenue is up 65% and net operating income is up 57%. It has paid monthly distributions since January 2013.

Northview Apartment Real Estate Trust (OTC:NPRUF) has become the third-largest residential REIT in Canada thanks to a major, transformative deal it did in late 2015, in which it acquired True North Corp. It also acquired a large portfolio of 4,650 multi-family units from Starlight Investments Ltd. The "F" on the end of NPRUF's code indicates that it is a fungible stock, which means investors can either trade it in the US or on its foreign exchange. Northview now has a much more balanced geographic income model, with NOI from western and northern Canada shrinking from being over 86% of total NOI in 2015 vs. 56% so far in 2016.

Source: Seeking Alpha

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