TFSA Gold: 2 Dividend Stocks I’d Lock In Now

Gold’s big swings can make it feel less like a TFSA “shield.” These two monthly-paying REITs offer an income-focused alternative.

Amy Legate-Wolfe

Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Before joining Motley Fool Canada, she wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote: “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published February 12, 9:00 pm EST

| More on: APR.UNDIR.UN

Key Points

Dream Industrial earns rent from warehouses and logistics properties, and recent results showed rising FFO with high occupancy.
Automotive Properties owns dealership real estate with long leases, but its payout ratio leaves less room if conditions worsen.
Both can still drop when rates rise, but monthly cash flow lets you reinvest through volatility instead of guessing gold’s next move.

Gold can feel like the perfect Tax-Free Savings Account (TFSA) shield, until it starts acting like a roller coaster. Late January showed that clearly. Gold touched a record near US$5,354 an ounce and then fell almost 13% in two sessions before it tried to steady itself.

When that happens, “safety” starts to feel like stress. Dividend stocks can look better because the return does not rely on a buyer paying more tomorrow. The cash arrives on schedule, and you can reinvest it.

todder holds a gold bar — Source: Getty Images

DIR.UN

Dream Industrial REIT (TSX:DIR.UN) looks relevant now as it gives you exposure to industrial real estate, not just rate chatter. Warehouses and logistics space still matter as companies rethink supply chains and keep pushing goods through Canada and Europe. The real estate investment trust (REIT) spreads its portfolio across regions, which can soften a weak patch in any single market. It pays monthly, which helps you stay patient when markets chop around.

News over the last year brought a clear catalyst. In December 2025, Dream Industrial announced a strategic partnership with CPP Investments and an $805 million portfolio recapitalization. It also suspended its DRIP starting with the distribution payable in mid-January 2026, which keeps payouts simple and preserves flexibility. In January, it held the monthly distribution at $0.70 annualized.

The latest reported earnings show the engine still runs. In Q3 2025, Dream Industrial produced funds from operations (FFO) of $0.27 per unit, up 4.3% year over year. Comparative properties NOI came in at $103.8 million, up 6.4%, and net rental income rose to $98.4 million. In-place and committed occupancy sat at 95.4% at September 30, 2025. If rent growth stays firm and occupancy stays high, the distribution should hold up.

APR.UN

Automotive Properties REIT (TSX:APR.UN) looks relevant now for a different reason. It owns dealership and original equipment management (OEM)-related real estate with long leases, and tenants treat these sites as core operating locations. That can create sticky rent streams and predictable cash flow. It also pays monthly, which suits a TFSA plan built on steady reinvestment.

Recent news leaned into growth and income. In Q2 2025, the REIT announced agreements to acquire seven automotive properties, and it increased its monthly distribution to $0.067 per unit, or $0.804 annualized. It also set Mar. 4, 2026 as the release date for Q4 and full-year 2025 results, which gives investors a near-term checkpoint.

The most recent quarter on record showed continued progress. In Q3 2025, rental revenue rose 7.9% to $25.4 million, and cash net operating income (NOI) increased 6.5% to $21 million. Adjusted FFO increased 8.8% to $12.7 million, or $0.252 per unit, and the REIT reported an AFFO payout ratio of about 81%. That coverage looks fine, but it leaves less cushion than that of Dream Industrial if rates or leasing conditions worsen.

Bottom line

These two dividend stocks could beat gold for some TFSA investors because they turn volatility into a reinvestment plan instead of a guessing game. In fact, here’s what $7,000 in each dividend stock can bring in.

COMPANY	RECENT PRICE	NUMBER OF SHARES	ANNUAL DIVIDEND	ANNUAL TOTAL PAYOUT	FREQUENCY	TOTAL INVESTMENT
DIR.UN	$13.31	525	$0.70	$367.50	Monthly	$6,987.75
APR.UN	$11.31	618	$0.81	$500.58	Monthly	$6,989.58

Gold can jump and then snap back fast, as January proved. DIR.UN and APR.UN can still fall when markets de-risk, and rates can still lean on REIT prices. But if you want monthly cash flow you can compound while gold swings around, these two investments can offer a calmer path.