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Andy Nasr.

Andy Nasr is managing director and senior portfolio manager at Middlefield Group. His focus is North American dividend stocks and REITs.

Top Picks:

InterRent (IIP.UN-TSX)

InterRent is an attractively valued multi-residential apartment REIT that just completed a sizable acquisition in Ottawa. Management focuses more on value-added development and has historically kept the payout ratio relatively low.

Ryder Systems (R-NYSE)

The company provides transportation and logistics services. We expect operating profit, cash flow and dividends to increase as the company expands its fleet and service offerings.

Harley-Davidson (HOG-NYSE)

We would use the recent pullback, which is predominantly related to foreign currency concerns, as a buying opportunity.

Past Picks: March 27, 2014

AIG (AIG-NYSE)

Then: $49.41; Now: $55.65 +12.63%; Total return: +13.66%

Brookfield Canada Office Properties (BOX.UN-TSX)

Then: $26.20; Now: $29.66 +13.21%; Total return: +17.96%

Kraft Foods Group (KRFT-Nasdaq)

Then: $55.54; Now: $61.30 +10.37%; Total return: +14.50%

Total return average: +15.37%

Market outlook:

Economic growth and central bank policies in North America, Asia and Europe will meaningfully diverge, underscoring the importance of geographic diversification. The U.S. economy continues to demonstrate steady improvement. An improved labour market should precipitate higher wages and encourage consumers and corporations, which have significantly de-leveraged during the past few years, to increase spending. GDP growth in Europe and Japan will likely continue to require accommodative policies and structural reforms to circumvent deflation and rekindle domestic demand. We believe that Canadian and U.S. equities will provide excellent risk-adjusted returns and that they are well positioned to deliver consistent earnings, cash flow and dividend growth for the foreseeable future.