This Super Dividend REIT Can't Be Beat

TORONTO (TheStreet) -- Real estate investment trusts have been a staple in investors portfolios for many years. Their stability and income make them a natural fit for investors desiring both yield and capital appreciation. Too often, however, investors never look beyond their borders to find the "best of the best" investment.

There are multiple reasons why many prefer to stay within the confines of their own borders: differing accounting standards, tax implications, legal/regulatory differences and, at times, the difficulty in monitoring one's positions.

What if you were told that there is a best in class REIT located just north of the United States? Sound appealing? Then if you were told that just about any retail REIT that wants to do business in Canada typically goes to this REIT to get it done, would that be interesting? These are not rhetorical questions, these questions are a roadmap to RioCan REIT (RIOCF.PK in the U.S. or REI in Canada).

RioCan describes itself as "Canada's largest real estate investment trust with a total capitalization of approximately $13 billion as at March 31, 2012. It owns and manages Canada's largest portfolio of shopping centers with ownership interests in a portfolio of 333 retail properties, including 10 under development, containing an aggregate of 80 million square feet including 46 grocery anchored and new format retail centers containing 12 million square feet in the United States through various joint venture arrangements."