iShares S&P/TSX Capped REIT Index ETF (XRE.TO)

He continues to like the REIT space. When you are looking for yield, you have to be careful because a lot of yielding equities have gotten quite high and are getting a bit expensive. Not sure the REITs are expensive at this point. This one gives you about 4.7% dividend.

REITs. Felt we were due for a little bit of a downturn in them. They are still great buys but you have to be selective with them. He still likes them. XRE-T is a recommendation.

REITs. XRE-T and ZRE-T. Differences are the weightings. It's expensive and there is a 5% correction risk. Wait for that if you want to place more money. Sector should be okay from an interest rate perspective. Not a lot of value in the REITs at this point.

He likes the REITs. This is an ETF that has been perceived as safe money. Probably just bounced off support at just a little under $17. 4.4% yield. When rates move higher this will probably be hurt but doesn’t see that happening until late 2013.

He is a bit of a contrarian when it comes to REIT valuations. You have to be careful when you are overpaying for yield and the REIT sector kind of lends itself to that category. Has had a very good run. Most of the REITs are great operating businesses. But on a free cash flow basis, they are trading at a 14-16 times AFFO and he prefers 10-12 times. This is a good hedge against your long positions.

He likes real estate investment trusts. 35% of its portfolio is weighted in 2 stocks, RioCan (UN-T) and H&R (HR.UN-T). If you have concerns over this, you might consider an equal weight ETF such as BMO’s (ZRE-T) paying a little bit higher dividend yield of 4.75% versus 4.25%.