quick update! A sell, A buy & watchlist updated!

reit stock dividend blog canada plaza reit plz.un

Just a VERY quick update. For the sake of transparency – I always like to try and post when I buy or sell a stock. Today I closed a position in one of the stocks I’ve held for quite some time. I sold all my shares of Plaza Reit. This was actually one of the first stocks I ever owned, and although I ended up making a profit on these shares, and the monthly dividend was nice to see hitting the account each month – truth be told the annual returns have been sub par. I’ve been wanting to add some Canadian Banks to my portfolio and was torn between which one to add, so I ended up using the proceeds and buying 363 shares of RBNK. This is an ETF that has just 6 holdings (All 6 of the big Canadian banks). The best part is, it pays a monthly dividend, and I’ll have enough to drip 1 additional share each month!

I still like Plaza Reit, and may consider adding it again on dips. I could definitely see myself moving back into Plaza in retirement as well when monthly cashflow will be more important – but for now, I am much more comfortable holding the big Canadian Banks, and I believe they will outperform Plaza (by quite a bit) over the next 10 years.

Stocks on my current watchlist are:

  • Equitable Group (do not own)
  • Metro (do not own)
  • Manulife (recently added to my position)
  • GoEasy (currently own)
  • CCL (do not own)
  • CP Rail (do not own)
  • Empire (do not own)

With the recent purchase of Manulife and now RBNK, the TFSA’s are pretty empty as far as cash reserves go – so I’ll be slowly adding cash until I am ready to make another purchase (thinking EQB will be next).

In the RRSP, I am still sitting on quite a bit of cash, and will be looking for some US companies to nibble on. Ideally I’d like to see a dip and either up my position in XAW, or start positions in: Visa, Disney, Microsoft.

Cheers!

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