| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 |
| | | VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| Altria Group, Inc. | COM | 02209S103 | 794 | 11,120 | SH | | SOLE | | 6,390 | 0 | 4,730 |
| Amerigas Partners LP | UNIT LTD PARTN | 030975106 | 2,056 | 43,668 | SH | | SOLE | | 37,371 | 0 | 6,297 |
| Armada Hoffler Properties, Inc | COM | 04208T108 | 565 | 40,690 | SH | | SOLE | | 33,540 | 0 | 7,150 |
| Bonterra Energy Corp. | COM | 098546104 | 481 | 27,986 | SH | | SOLE | | 21,636 | 0 | 6,350 |
| Buckeye Partners LP | UNIT LTD PARTN | 118230101 | 2,106 | 30,718 | SH | | SOLE | | 25,208 | 0 | 5,510 |
| Chesapeake Utilities Corp. | COM | 165303108 | 1,162 | 16,786 | SH | | SOLE | | 11,919 | 0 | 4,867 |
| Cominar REIT | COM | 199910951 | 270 | 25,035 | SH | | SOLE | | 24,515 | 0 | 520 |
| Commonwealth Bank of Australia | COM | 621503002 | 1,572 | 23,993 | SH | | SOLE | | 18,533 | 0 | 5,460 |
| Crombie REIT | COM | 227107976 | 165 | 15,840 | SH | | SOLE | | 15,450 | 0 | 390 |
| DCP Midstream Partners LP | UNIT LTD PARTN | 23311P100 | 884 | 22,526 | SH | | SOLE | | 15,991 | 0 | 6,535 |
| Energias de Portugal, SA ADR | ADR | 268353109 | 960 | 28,203 | SH | | SOLE | | 28,203 | 0 | 0 |
| Enterprise Products Partners L | UNIT LTD PARTN | 293792107 | 1,847 | 66,896 | SH | | SOLE | | 54,846 | 0 | 12,050 |
| Ferrellgas Partners LP | UNIT LTD PARTN | 315293100 | 168 | 28,025 | SH | | SOLE | | 26,325 | 0 | 1,700 |
| Gaztransport et Technigaz SAS | COM | ACI07W296 | 1,107 | 29,356 | SH | | SOLE | | 22,606 | 0 | 6,750 |
| Genworth MI Canada Inc. | COM | 37252B953 | 819 | 29,692 | SH | | SOLE | | 29,692 | 0 | 0 |
| Gladstone Commercial Corp. | COM | 376536108 | 1,422 | 68,778 | SH | | SOLE | | 60,723 | 0 | 8,055 |
| Global Partners LP | UNIT LTD PARTN | 37946R109 | 691 | 35,446 | SH | | SOLE | | 31,101 | 0 | 4,345 |
| H&R REIT | COM | 404428955 | 387 | 22,352 | SH | | SOLE | | 21,841 | 0 | 511 |
| Kinder Morgan, Inc. | COM | 49456B101 | 938 | 43,140 | SH | | SOLE | | 33,034 | 0 | 10,106 |
| LTC Properties Inc. | COM | 502175102 | 225 | 4,700 | SH | | SOLE | | 1,550 | 0 | 3,150 |
| Labrador Iron Ore Royalty Corp | COM | 505440966 | 859 | 61,440 | SH | | SOLE | | 38,930 | 0 | 22,510 |
| Martin Midstream Partners LP | UNIT LTD PARTN | 573331105 | 303 | 15,173 | SH | | SOLE | | 13,828 | 0 | 1,345 |
| Monmouth Real Estate Investmen | COM | 609720107 | 2,266 | 158,778 | SH | | SOLE | | 154,593 | 0 | 4,185 |
| National Grid PLC ADS | ADR | 636274300 | 1,185 | 18,672 | SH | | SOLE | | 13,392 | 0 | 5,280 |
| ONE Gas, Inc. | COM | 68235P108 | 770 | 11,392 | SH | | SOLE | | 6,077 | 0 | 5,315 |
| ONEOK Inc. | COM | 682680103 | 290 | 5,237 | SH | | SOLE | | 473 | 0 | 4,764 |
| ONEOK Partners LP | UNIT LTD PARTN | 68268N103 | 1,884 | 34,904 | SH | | SOLE | | 30,899 | 0 | 4,005 |
| Plains All American Pipeline L | UNIT LTD PARTN | 726503105 | 1,037 | 32,802 | SH | | SOLE | | 27,062 | 0 | 5,740 |
| Precinct Properties New Zealan | COM | 609327903 | 705 | 827,050 | SH | | SOLE | | 827,050 | 0 | 0 |
| Realty Income Corp. | COM | 756109104 | 1,198 | 20,129 | SH | | SOLE | | 14,242 | 0 | 5,887 |
| Rostelecom Long Distance ADR | ADR | 778529107 | 321 | 39,205 | SH | | SOLE | | 39,205 | 0 | 0 |
| Sabra Health Care REIT | COM | 78573L106 | 827 | 29,595 | SH | | SOLE | | 18,805 | 0 | 10,790 |
| Ship Finance International Ltd | COM | G81075106 | 679 | 46,190 | SH | | SOLE | | 36,480 | 0 | 9,710 |
| Spectra Energy Partners LP | UNIT LTD PARTN | 84756N109 | 680 | 15,565 | SH | | SOLE | | 12,035 | 0 | 3,530 |
| Suburban Propane Partners LP | UNIT LTD PARTN | 864482104 | 400 | 14,850 | SH | | SOLE | | 13,440 | 0 | 1,410 |
| Sunoco Logistics LP | UNIT LTD PARTN | 86764L108 | 1,352 | 55,350 | SH | | SOLE | | 44,700 | 0 | 10,650 |
| TC Pipelines LP | UNIT LTD PARTN | 87233Q108 | 2,232 | 37,412 | SH | | SOLE | | 31,866 | 0 | 5,546 |
| Teekay LNG Partners LP | UNIT LTD PARTN | Y8564M105 | 293 | 16,680 | SH | | SOLE | | 13,150 | 0 | 3,530 |
| Total SA ADR | ADR | 89151E109 | 715 | 14,189 | SH | | SOLE | | 12,599 | 0 | 1,590 |
| USA Compression Partners LP | UNIT LTD PARTN | 90290N109 | 473 | 28,016 | SH | | SOLE | | 23,301 | 0 | 4,715 |
| Urstadt Biddle Properties Inc. | COM | 917286205 | 978 | 47,579 | SH | | SOLE | | 37,239 | 0 | 10,340 |
| Verizon Communications Inc. | COM | 92343V104 | 776 | 15,928 | SH | | SOLE | | 10,958 | 0 | 4,970 |
| Vermilion Energy Trust | COM | 923725956 | 396 | 10,579 | SH | | SOLE | | 9,979 | 0 | 600 |
| Air Products & Chemicals Inc. | COM | 009158106 | 1,385 | 10,234 | SH | | SOLE | | 9,184 | 0 | 1,050 |
| Anadarko Petroleum Corp. | COM | 032511107 | 842 | 13,576 | SH | | SOLE | | 12,111 | 0 | 1,465 |
| Apache Corp. | COM | 037411105 | 449 | 8,735 | SH | | SOLE | | 7,100 | 0 | 1,635 |
| AptarGroup, Inc. | COM | 038336103 | 1,835 | 23,839 | SH | | SOLE | | 18,608 | 0 | 5,231 |
| AstroNova, Inc. | COM | 04638F108 | 222 | 14,562 | SH | | SOLE | | 9,422 | 0 | 5,140 |
| Automatic Data Processing Inc. | COM | 053015103 | 2,544 | 24,850 | SH | | SOLE | | 19,845 | 0 | 5,005 |
| Avery Dennison Corp. | COM | 053611109 | 1,569 | 19,472 | SH | | SOLE | | 15,665 | 0 | 3,807 |
| Bank of Ireland | COM | 306062902 | 264 | 1,061,540 | SH | | SOLE | | 1,061,540 | 0 | 0 |
| Bemis Co. Inc. | COM | 081437105 | 1,380 | 28,253 | SH | | SOLE | | 27,963 | 0 | 290 |
| Breitburn Energy Partners LP | UNIT LTD PARTN | 106776107 | 12 | 154,074 | SH | | SOLE | | 130,994 | 0 | 23,080 |
| C.R. Bard Inc. | COM | 067383109 | 1,521 | 6,119 | SH | | SOLE | | 4,129 | 0 | 1,990 |
| CDK Global Holdings LLC | COM | 12508E101 | 868 | 13,352 | SH | | SOLE | | 10,708 | 0 | 2,644 |
| Church & Dwight Company, Inc. | COM | 171340102 | 562 | 11,267 | SH | | SOLE | | 8,075 | 0 | 3,192 |
| Colgate-Palmolive Co. | COM | 194162103 | 2,442 | 33,370 | SH | | SOLE | | 27,212 | 0 | 6,158 |
| Comcast Corp. | COM | 20030N101 | 743 | 19,757 | SH | | SOLE | | 8,938 | 0 | 10,819 |
| Credito Real Sofom ENR | COM | B8DST5905 | 267 | 191,458 | SH | | SOLE | | 191,458 | 0 | 0 |
| Cummins Inc. | COM | 231021106 | 519 | 3,432 | SH | | SOLE | | 2,897 | 0 | 535 |
| Dentsply Sirona Inc. | COM | 24906P109 | 606 | 9,706 | SH | | SOLE | | 7,717 | 0 | 1,989 |
| Ecolab, Inc. | COM | 278865100 | 434 | 3,465 | SH | | SOLE | | 2,275 | 0 | 1,190 |
| Emerson Electric Co. | COM | 291011104 | 717 | 11,975 | SH | | SOLE | | 9,490 | 0 | 2,485 |
| Enerplus Resources Fund Trust | COM | 292766102 | 661 | 82,098 | SH | | SOLE | | 65,368 | 0 | 16,730 |
| FB Financial Corp. | COM | 30257X104 | 884 | 25,005 | SH | | SOLE | | 16,510 | 0 | 8,495 |
| Fastenal Co. | COM | 311900104 | 427 | 8,300 | SH | | SOLE | | 6,350 | 0 | 1,950 |
| Ferroglobe PLC | COM | G33856108 | 110 | 10,610 | SH | | SOLE | | 10,610 | 0 | 0 |
| Fiserv Inc. | COM | 337738108 | 2,616 | 22,688 | SH | | SOLE | | 18,092 | 0 | 4,596 |
| General Mills Inc. | COM | 370334104 | 1,077 | 18,255 | SH | | SOLE | | 14,250 | 0 | 4,005 |
| Givaudan SA ADR | ADR | 37636P108 | 658 | 18,269 | SH | | SOLE | | 14,539 | 0 | 3,730 |
| Graco, Inc. | COM | 384109104 | 1,893 | 20,110 | SH | | SOLE | | 17,109 | 0 | 3,001 |
| Grainger, WW Inc. | COM | 384802104 | 1,276 | 5,481 | SH | | SOLE | | 4,404 | 0 | 1,077 |
| Grupo Aeroportuario Del Pacifi | ADR | 400506101 | 1,735 | 17,872 | SH | | SOLE | | 16,117 | 0 | 1,755 |
| Hasbro Inc. | COM | 418056107 | 504 | 5,050 | SH | | SOLE | | 2,485 | 0 | 2,565 |
| Heineken NV ADR | ADR | 423012301 | 1,197 | 28,196 | SH | | SOLE | | 22,715 | 0 | 5,481 |
| Honeywell International Inc. | COM | 438516106 | 1,080 | 8,650 | SH | | SOLE | | 6,800 | 0 | 1,850 |
| Hormel Foods Corp. | COM | 440452100 | 2,353 | 67,952 | SH | | SOLE | | 54,789 | 0 | 13,163 |
| Hubbell Inc. | COM | 443510607 | 967 | 8,055 | SH | | SOLE | | 6,005 | 0 | 2,050 |
| IMI PLC | COM | BGLP8L902 | 305 | 20,425 | SH | | SOLE | | 20,425 | 0 | 0 |
| ITT Corp. | COM | 45073V108 | 1,244 | 30,329 | SH | | SOLE | | 27,429 | 0 | 2,900 |
| Illinois Tool Works Inc. | COM | 452308109 | 605 | 4,570 | SH | | SOLE | | 2,980 | 0 | 1,590 |
| Imperial Oil Ltd. | COM | 453038408 | 219 | 7,183 | SH | | SOLE | | 7,123 | 0 | 60 |
| Infraestructura Energ Nov | COM | B84XBP909 | 223 | 47,150 | SH | | SOLE | | 47,150 | 0 | 0 |
| Ingredion Inc. | COM | 457187102 | 2,243 | 18,626 | SH | | SOLE | | 15,336 | 0 | 3,290 |
| International Flavors & Fragra | COM | 459506101 | 1,078 | 8,135 | SH | | SOLE | | 6,035 | 0 | 2,100 |
| Johnson Controls International | COM | G51502105 | 873 | 20,732 | SH | | SOLE | | 19,797 | 0 | 935 |
| Kimberly-Clark Corp. | COM | 494368103 | 1,414 | 10,743 | SH | | SOLE | | 8,352 | 0 | 2,391 |
| LKQ Corp. | COM | 501889208 | 391 | 13,343 | SH | | SOLE | | 11,113 | 0 | 2,230 |
| Leggett & Platt Inc. | COM | 524660107 | 1,090 | 21,654 | SH | | SOLE | | 16,905 | 0 | 4,749 |
| Lincoln Electric Holdings Inc. | COM | 533900106 | 886 | 10,205 | SH | | SOLE | | 5,500 | 0 | 4,705 |
| McCormick & Company, Inc. | COM | 579780206 | 1,680 | 17,225 | SH | | SOLE | | 15,099 | 0 | 2,126 |
| McDonald's Corp. | COM | 580135101 | 1,712 | 13,209 | SH | | SOLE | | 11,114 | 0 | 2,095 |
| Mechel Open Joint Stock Co. AD | ADR | 583840608 | 85 | 16,051 | SH | | SOLE | | 16,051 | 0 | 0 |
| Mettler-Toledo International, | COM | 592688105 | 1,579 | 3,298 | SH | | SOLE | | 2,915 | 0 | 383 |
| Myriad Genetics Inc. | COM | 62855J104 | 315 | 16,382 | SH | | SOLE | | 7,664 | 0 | 8,718 |
| Nordson Corp. | COM | 655663102 | 798 | 6,498 | SH | | SOLE | | 3,928 | 0 | 2,570 |
| Norfolk & Southern Corp. | COM | 655844108 | 1,482 | 13,233 | SH | | SOLE | | 12,183 | 0 | 1,050 |
| Novartis AG ADR | ADR | 66987V109 | 1,092 | 14,709 | SH | | SOLE | | 10,885 | 0 | 3,824 |
| Novolipetsk GDR | ADR | B0RTNX900 | 313 | 15,715 | SH | | SOLE | | 15,715 | 0 | 0 |
| Occidental Petroleum Corp. | COM | 674599105 | 487 | 7,688 | SH | | SOLE | | 7,648 | 0 | 40 |
| Omnicom Group | COM | 681919106 | 2,314 | 26,836 | SH | | SOLE | | 20,719 | 0 | 6,117 |
| Parker Hannifin Corp. | COM | 701094104 | 1,532 | 9,553 | SH | | SOLE | | 6,298 | 0 | 3,255 |
| Paychex, Inc. | COM | 704326107 | 1,663 | 28,237 | SH | | SOLE | | 21,646 | 0 | 6,591 |
| Pengrowth Energy Trust | COM | 70706P104 | 153 | 152,784 | SH | | SOLE | | 150,784 | 0 | 2,000 |
| Praxair, Inc. | COM | 74005P104 | 1,509 | 12,727 | SH | | SOLE | | 11,217 | 0 | 1,510 |
| Prosperity Bancshares Inc. | COM | 743606105 | 2,283 | 32,746 | SH | | SOLE | | 25,146 | 0 | 7,600 |
| Qiwi PLC | COM | 74735M108 | 188 | 10,945 | SH | | SOLE | | 10,525 | 0 | 420 |
| Reliq Health Technologies Inc. | COM | 75955T103 | 2 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
| Schneider Electric SA | COM | 483410007 | 1,095 | 14,919 | SH | | SOLE | | 12,519 | 0 | 2,400 |
| Sherwin-Williams Co. | COM | 824348106 | 1,690 | 5,448 | SH | | SOLE | | 4,540 | 0 | 908 |
| Smith & Nephew PLC | COM | 83175M205 | 795 | 25,714 | SH | | SOLE | | 25,004 | 0 | 710 |
| Snap-on, Inc. | COM | 833034101 | 769 | 4,560 | SH | | SOLE | | 3,615 | 0 | 945 |
| St. Gobain SA | COM | 738048909 | 873 | 16,952 | SH | | SOLE | | 16,842 | 0 | 110 |
| Straumann Holdings AG | COM | 715683900 | 597 | 1,285 | SH | | SOLE | | 740 | 0 | 545 |
| Sunstone Hotel Investors Inc. | COM | 867892101 | 206 | 13,417 | SH | | SOLE | | 13,417 | 0 | 0 |
| Synchrony Financial | COM | 87165B103 | 944 | 27,509 | SH | | SOLE | | 16,035 | 0 | 11,474 |
| Tennant Co. | COM | 880345103 | 826 | 11,370 | SH | | SOLE | | 8,935 | 0 | 2,435 |
| The Clorox Co. | COM | 189054109 | 765 | 5,677 | SH | | SOLE | | 5,622 | 0 | 55 |
| Toronto Dominion Bank | COM | 891160509 | 1,525 | 30,450 | SH | | SOLE | | 25,355 | 0 | 5,095 |
| US Physical Therapy Inc. | COM | 90337L108 | 947 | 14,497 | SH | | SOLE | | 11,800 | 0 | 2,697 |
| Xylem, Inc. | COM | 98419M100 | 910 | 18,112 | SH | | SOLE | | 14,682 | 0 | 3,430 |
| Yandex NV | COM | N97284108 | 305 | 13,900 | SH | | SOLE | | 13,900 | 0 | 0 |
