Here Are the Undervalued Bank Stocks and REITs I'd Buy This Year

The article argues that several Canadian bank stocks and REITs look undervalued amid ongoing uncertainty around interest rates. It highlights SmartCentres (TSX:SRU.UN) after about an 8% pullback, noting a dividend yield nearing 6.5% and a grocery-anchored tenant mix that includes Walmart (NASDAQ:WMT). The piece says office REITs face tougher conditions, while grocery-focused retail REITs may be more resilient if the Bank of Canada keeps rates on hold. It also references potential risk from inflation and the possibility of one or two additional hikes over the next 12 months. For banks, it names Scotiabank (TSX:BNS) as a more reasonably priced option with roughly a 3.7% yield.