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It’s nice to get monthly income from your investments as a part of your income stream, say, alongside your job’s income. Not many dividend stocks pay monthly, though. If your goal is to target monthly income, one of the first places to explore is Canadian real estate investment trusts (REIT). So, our first idea for monthly income is RioCan REIT (TSX:REI.UN).
RioCan REIT
RioCan REIT cut its cash distribution by a third in January 2021. Along with rising interest rates since 2022, this triggered a downtrend in the stock. It seems like all the bad news has come out.
The retail REIT started increasing its cash distribution in February 2022. Although its cash distribution is still not back at pre-cut levels, it is about 15% higher than when it cut the cash distribution in 2021.
Adding that the retail REIT stock trades at a low valuation compared to its historical levels, it now offers a juicy cash…
