(A Top Pick April 22/15. Up 3.77%.) Hotels in the US. High yield of over 8%. To make the yield safer at the peak, they locked their distribution, putting it into US$’s, so now the payout is about 70%. About 40% of income comes from railroad contracts, so people are a little concerned that lower rail volumes will affect it. However, they do have guaranteed contracts.

(A Top Pick April 22/15. Up 0.66%.) This is diversified having office, retail and industrial. They are now adding a residential component across Canada. A very stable source of income, and will do well over time. They have exposure to the Alberta office market, and it is the lead company to have your money on for any recovery.

(A Top Pick April 22/15. Up 18.81%.) Has a core portfolio that is Walmart anchored. If you believe in more difficult times, more people will be going to Walmart along with their neighbouring stores.

Owns assets both in Canada and the US. If you are buying something for income, he eventually thinks this company will be sold. Thinks you could do quite well.

The advantage is that they really know the Edmonton market better than anybody else. If you want to play Edmonton, this is the way to do it. He is quite afraid of Edmonton, even though they have been able to lease up quite well. A lot of the space still hasn’t been constructed, but is nearing completion. Dividend yield of 8.3%.

An entire Quebec play. 70% debt, so very highly levered, and also has a high payout ratio. He doesn’t like it for those reasons.

US garden style apartments, mostly in Texas. If you own, you have had a currency negative against you. A competing company, Milestone REITs (MST.UN-T) has outperformed this by an easy 10% percentage points. He would be buying at this point if you believe 1) the currency will work for you and 2) it has lagged, so there will be a performance pull-up.