Hold off on new buying

Article Excerpt

ISHARES S&P/TSX REIT INDEX ETF, $14.53, is a hold. The ETF (Toronto symbol XRE; buy or sell through brokers; ca.ishares.com) lets you tap all 21 Canadian real estate investment trusts in the S&P/TSX REIT Index. Investors pay a MER of 0.61%, and the REIT fund gives you a high 6.3% yield. The ETF’s top holdings are Canadian Apartment REIT (15.4%), RioCan REIT (8.8%), Granite REIT (8.7%), Allied REIT (8.6%), Choice Props. (6.6%), First Capital Reality REIT (5.6%), H&R REIT (5.4%), SmartCentres REIT (5.1%), Northview Apartment REIT (4.1%), Summit Industrial REIT (3.5%) and Killam REIT (3.4%). Beyond those top holdings, investors also have exposure to InterRent REIT (3.4%), Northwest Healthcare REIT (3.14), Dream Industrial (3.2%), WPT Industrial REIT (2.8%), Crombie REIT (2.4%), Cominar REIT (2.4%), Boardwalk REIT (2.1%), Artis REIT (1.9%), CT REIT (1.9%) and Dream Office REIT (1.5%). We like some of the 21 REITs this ETF holds, but there are others we don’t view as buys. iShares S&P/TSX REIT is a hold. hold…