WPT Industrial (WIR.U) & RioCan (REI.UN): 2 Dividend-Paying REITs

Summary

  • Canada’s real estate price growth outperformed almost every other market in the pandemic-ridden stretch of 2020.
  • WPT Industrial REIT distributes a monthly dividend of US$ 0.063, which currently has an yield of 4.84 per cent, as per the data on TMX Group.
  • RioCan REIT, which grew nearly 19 per cent in value in the last three months, pays a monthly dividend of C$ 0.12.

Canada’s real estate price growth outperformed almost every other market in the pandemic-ridden stretch of 2020. But there has been substantial cause of concern among market experts as to how the sector will perform in the long run as an asset class, especially regarding the value of office and retail real estate in a post-pandemic world. A joint research by Statistics Canada and Bank of Canada even found that Canadians spent more on shelter, operations around the house and personal care amid the pandemic than anything else.

However, certain real estate investment trusts (REITs) continue to trigger interest among investors, especially with the regular dividend packages. Let’s dive in to explore two dividend-paying REITs, WPT Industrial REIT (TSX:WIR.U) and RioCan REIT (TSX:REI.UN).

 

WPT Industrial REIT (TSX:WIR.U)

Current Stock Price: C$ 15.57


WPT Industrial REIT, which is an open-ended real estate investment trust, includes industrial assets that support the warehousing and distribution of goods.

WPT Industrial REIT distributes a monthly dividend of US$ 0.063, which currently has an yield of 4.84 per cent, as per the data on TMX Group. It also posts a dividend growth of 3.74 per cent in the last three years and that of 3.89 per cent in the last five years.

The REIT saw a jump of about 20 per cent for the last three months.

©Kalkine Group 2021

 

Riocan REIT (TSX:REI.UN)

Current Stock Price: C$ 17.23

 

Riocan REIT's portfolio primarily comprises Ontario-based grocery stores, supermarkets, pharmacies, etc. most of which were able to run their businesses without extreme hindrance due to the COVID-triggered lockdown restrictions.

The REIT, which grew nearly 19 per cent in value in the last three months, pays a monthly dividend of C$ 0.12. The dividend currently posts an yield of 8.456 per cent, as per the TMX data.

Riocan REIT's posted a dividend growth of 0.67 per cent in the last three years and that of 0.52 per cent in the last five years.

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