While getting paid once every three months doesn’t feel bad, I find a monthly payout far more satisfying and rewarding. It gives us regular cash flow that could be withdrawn, saved, or immediately reinvested. Inside a Tax-Free Savings Account (TFSA), those monthly payments could become even more powerful because investment income and gains can continue growing tax-free.
That’s why I love monthly dividend stocks like Crombie Real Estate Investment Trust (TSX:CRR.UN). This real estate investment trust (REIT) owns a large portfolio centred on grocery-anchored properties and currently offers a yield of over 5%. Its shares have also delivered solid gains lately.
In this article, I’ll explain why Crombie could be a perfect TFSA stock for investors seeking monthly paycheques and steady long-term growth.
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A monthly income stock built for a TFSA
If you don’t know it already, Crombie is a New Glasgow-based REIT that owns, operates, and develops a large portfolio of grocery-anchored retail, retail-related industrial, and mixed-use residential properties.
Crombie stock has gained 18% over the last year and 15% so far in 2026 to currently trade at $17.62 per share, giving it a market cap of about $2 billion. At the current price, the REIT offers a 5.1% annualized yield and pays distributions every month.
That mix of its recent share price strength and recurring income makes Crombie attractive for TFSA investors who want both cash flow and long-term compounding.
Why the recent momentum looks supported
Interestingly, the stock’s recent gains are backed by the company’s improving operating results rather than market excitement alone. In the first quarter of 2026, Crombie’s property revenue rose 3.6% year-over-year (YoY) to $127.1 million. The increase came from lease renewals, new leasing, and acquisitions. Its revenue from management and development services also jumped to $3.2 million from $1.1 million as development fees from joint ventures surged.
Similarly, Crombie’s operating income attributable to unitholders climbed 12.2% YoY in the latest quarter to $27.8 million. Its commercial same-asset property cash net operating income also grew 3.7% from a year ago to $84.3 million, driven by renewals, contractual rent increases, and new leasing.
At the same time, the REIT maintained healthy occupancy trends. Its committed occupancy improved to 97.6%, while economic occupancy reached 96.8%. Crombie also renewed 232,000 square feet of space at rents 12.1% above expiring rates, which shows that demand for its properties remains strong.
Growth plans that could support future monthly paycheques
Crombie’s monthly income looks even more reliable when you consider its long-term expansion efforts. In the March quarter, the REIT acquired two retail-related industrial properties in Ontario and Québec for $129.8 million. It also invested $6.4 million in property modernizations. These projects could improve its asset quality, support higher rents, and deepen relationships with important tenants.
Meanwhile, the company is also nearing completion of the Marlstone, a 291-unit residential rental project in downtown Halifax. The project’s initial occupancy has already begun. Beyond that, the REIT continues to pursue smaller redevelopment and modernization projects that carry lower execution risk.
For TFSA investors, Crombie offers a useful mix of monthly income, a 5.1% yield, strong occupancy, and measured growth. That makes it an attractive stock to consider now for steady tax-free paycheques and long-term wealth creation.
