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No. of Recommendations: 2
This is a Canadian REIT which owns apartments in the bone chilling North of Canada and in the Canadian Oil country which is getting clobbered. Its price has fallen so much that it is yielding 7.7% Canadian but if you hold it an IRA us Yankees only get 6.5%. Considering that quality US Apartment REITs have a yield in the 3.5-4% range and are trading at relatively high prices Northern Properties in my mind is mighty interesting. With the Canadian Dollar now at 0.77% US there is the potential for further gains here.

Here is a link to their investor relations
http://www.npreit.com/investor-relations

Their debt levels and payout ratios appear reasonable and many of their properties are rented to Canadian Government Agencies.

I am happy to collect a 6.5% dividend and at some point may have a very substantial capital gain on this investment. Of course wind and solar might trash this investment but this is a risk I will take.

I would be interested in the opinions of more analytical members of this board.

Martin
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