In fact we explicitly referred to Dream Industrial REIT (TSX: DIR-U, OTC: DREUF), in the subhead introducing it in that article, as “The Next REIT” in line for promotion to the Conservative Holdings.

Although we weren’t as explicit in our discussion of Baytex Energy Corp (TSX: BTE, NYSE: BTE) and its potential for inclusion in the Aggressive Holdings, the company’s production-per-share growth profile, its solid and growing asset base, management’s record of execution and an exceptionally attractive yield make it at least the fifth-strongest Oil and Gas recommendation in the coverage universe.

We noted in last month’s Portfolio Update our concern regarding Conservative Holding Dream Office REIT (TSX: D-U, OTC: DRETF), particularly its unit-price performance relative to other Canadian real estate investment trusts (REIT).

Dream Office is outperforming the broader office market in Canada, and it continues to put up solid financial and operating numbers. But we have better alternatives, including its affiliate Dream Industrial REIT, which is exposed to the more favorable industrial market.

With a yield north of 6 percent and three promising core plays–including Peace River and Lloydminster in addition to the Eagle Ford–Baytex is a solid growth-plus-income option for energy investors.

We’re adding it to the CE Portfolio Aggressive Holdings as a de facto replacement for hold-rated Lightstream Resources Ltd (TSX: LTS, OTC: LSTMF), which faces continuing pressure to maintain its dividend in the face of asset sales and softer crude oil prices.