Going through the weekend AFR, i found 11 stocks that AFR listed...

Going through the weekend AFR, i found 11 stocks that AFR listed as having a 20%+ yield.

They are: AIQ, AIB, AJA, CNP, CWT, MPS, MIX, MAFCA, RCU, MBD & REF.

Some are in "rehab" and suspended paying dividend/distribution & MBD is a very small microcap stock with a limited track record. So we are left with AJA, CWT & RCU.

AJA invests in Japapese properties, RCU invests in US properties & CWT invests in vineyards.

CWT & RCU's market cap are sub 100m where as AJA's amrket cap is around 170m.

AJA & RCU are both exposed to FX risks whereas CWT is exposed to sector risk.

I would say AJA is the best out of the 3 based on interest coverage ratio. AJA 3+, RCU 1.5 & CWT 2.3. (I hold a reasonable amount of AJA.)

The reason of AJA's high interest coverage ratio is due to the spread between rental yield in Japan (circa 5%) and cost of debt (circa 2%). AJA is unloved by the market despite being on of the top performing REIT stock in terms of not issuing additional equity to dilute shareholder's interests.
I have also done a stress test of AJA and believe the 7 cents distribution should be sustainable.

For whatever this is the worth, i think right now, based on Friday closing price, AJA is the best stock on ASX at the moment.