It won’t seem to be it now, however 2023 is more likely to finish with a bull market. We’re nonetheless ready on a recession, I do know. However as soon as we attain that backside, it’s going to be up from there. That’s why now is a superb time to get in on these high dividend shares, earlier than they explode.

PRO REIT

PRO REIT (TSX:PRV.UN) is a strong selection amongst dividend shares for a number of causes. First, there’s the payout ratio, which presently sits at 31.5%. Then, there’s the ultra-high dividend yield, at 8.06% as of writing. And it stays low cost, buying and selling at 3.9 occasions earnings, and down 23% within the final 12 months alone.

PRO REIT focuses on making a diversified portfolio of business properties throughout Canada. And whereas different REITs may be struggling throughout earnings, PRO REIT has managed to do effectively. The REIT reported that its whole belongings handed the $1 billion mark, up 4.6% 12 months over 12 months. Property income was up 9.3% as effectively in comparison with the year-ago quarter, and 25.2% for the total 12 months in comparison with 2021. Lastly, it continues to boast a 98.5% occupancy price.

Proper now, then, is a superb time to contemplate PRV.UN amongst dividend shares with shares at simply $5.60. These shares may actually attain 52-week highs earlier than the 12 months is out, which might be a possible upside of 30%.

Nexus REIT

Then we’ve got Nexus REIT (TSX:NXR.UN), which has most of the similar helpful causes to choose it up along with your different dividend shares. Its payout ratio sits at 35.7% as of writing, with a dividend yield at 6.59%. NXR.UN trades at a helpful 5.4 occasions earnings, and is down 25% within the final 12 months.

Nexus REIT additionally focuses on development in Canada, focusing on the acquisition, administration and possession of commercial, workplace, and retail areas. Throughout its most up-to-date earnings report, the REIT held a 97% occupancy price, whereas internet working earnings elevated 71.2% 12 months over 12 months.

So once more, it’s a good time to contemplate this REIT along with your dividend shares whereas shares commerce at $9.83. Ought to these shares hit 52-week highs earlier than the 12 months is out, that might give it a possible upside of 36%.

NorthWest REIT

Lastly, NorthWest Healthcare Properties REIT (TSX:NWH.UN) is the ultimate inventory I’d contemplate, nevertheless it’s positively on the riskier facet. That’s as a result of NorthWest inventory has been utilizing its funds to increase quickly to create a global portfolio of healthcare properties.

Drawback is, this has led to a payout ratio at 299.4% as of writing, which actually isn’t sustainable. It now holds a dividend yield at 9.77%, which actually is nice. However after shares dropped 38% within the final 12 months, I’d be cautious ought to the inventory not get well.

That being mentioned, NorthWest inventory continues to carry out effectively, with income rising 23% 12 months over 12 months through the fourth quarter. The healthcare REIT continues to carry a 97% occupancy price, and 98.3% for its worldwide portfolio. Its common lease expiry sits at 14 years, with its worldwide portfolio of hospital and healthcare amenities at 18.2 years. In order that’s fairly good stability, although weighed down by shares.

Shares now commerce at 30.7 occasions earnings, and 0.8 occasions ebook worth, so it has some worth there. Ought to shares rebound again to 52-week highs, that results in a possible upside of 64% with shares buying and selling at $8.21 as of writing.