New Purchase: Artis Reit

On July 21, I initiated a new position in ARTIS REIT (AX-UN.TO). Artis' assets portfolio is well diversified. They own quality office, retail, and industrial properties. I purchased 70 units at $13.69 per unit. This purchase will add around $6 to my monthly income.

The stock is trading at discount to NAV (Net Asset Value). I love picking up REITs that trade at a discount. The market doesn't like the Alberta exposure at the moments and that's why I'm buying it. I believe the oil price will move higher in the coming years due to strong oil demand. There's a potential for capital appreciation and while I wait, I will receive monthly dividend that yields around 8%.