| 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 | 807 | 10,830 | SH | | SOLE | | 6,390 | 0 | 4,440 |
| Amerigas Partners LP | UNIT LTD PARTN | 030975106 | 2,020 | 44,731 | SH | | SOLE | | 37,816 | 0 | 6,915 |
| Armada Hoffler Properties, Inc | COM | 04208T108 | 774 | 59,740 | SH | | SOLE | | 47,845 | 0 | 11,895 |
| Bonterra Energy Corp. | COM | 098546104 | 357 | 27,711 | SH | | SOLE | | 21,636 | 0 | 6,075 |
| Buckeye Partners LP | UNIT LTD PARTN | 118230101 | 1,938 | 30,318 | SH | | SOLE | | 25,208 | 0 | 5,110 |
| Chesapeake Utilities Corp. | COM | 165303108 | 1,258 | 16,786 | SH | | SOLE | | 11,919 | 0 | 4,867 |
| Cominar REIT | COM | 199910951 | 668 | 68,280 | SH | | SOLE | | 53,155 | 0 | 15,125 |
| Commonwealth Bank of Australia | COM | 621503002 | 1,511 | 23,793 | SH | | SOLE | | 18,533 | 0 | 5,260 |
| Crombie REIT | COM | 227107976 | 171 | 15,840 | SH | | SOLE | | 15,450 | 0 | 390 |
| DCP Midstream Partners LP | UNIT LTD PARTN | 23311P100 | 762 | 22,526 | SH | | SOLE | | 15,991 | 0 | 6,535 |
| Energias de Portugal, SA ADR | ADR | 268353109 | 924 | 28,203 | SH | | SOLE | | 28,203 | 0 | 0 |
| Energy Transfer Partners LP | UNIT LTD PARTN | 29278N103 | 1,119 | 54,900 | SH | | SOLE | | 44,700 | 0 | 10,200 |
| Enterprise Products Partners L | UNIT LTD PARTN | 293792107 | 1,787 | 66,006 | SH | | SOLE | | 54,846 | 0 | 11,160 |
| Ferrellgas Partners LP | UNIT LTD PARTN | 315293100 | 121 | 26,325 | SH | | SOLE | | 26,325 | 0 | 0 |
| Gaztransport et Technigaz SAS | COM | ACI07W296 | 1,171 | 29,356 | SH | | SOLE | | 22,606 | 0 | 6,750 |
| Genworth MI Canada Inc. | COM | 37252B953 | 816 | 29,692 | SH | | SOLE | | 29,692 | 0 | 0 |
| Gladstone Commercial Corp. | COM | 376536108 | 1,453 | 66,698 | SH | | SOLE | | 60,703 | 0 | 5,995 |
| Global Partners LP | UNIT LTD PARTN | 37946R109 | 605 | 33,526 | SH | | SOLE | | 31,101 | 0 | 2,425 |
| H&R REIT | COM | 404428955 | 379 | 22,352 | SH | | SOLE | | 21,841 | 0 | 511 |
| Kinder Morgan, Inc. | COM | 49456B101 | 801 | 41,805 | SH | | SOLE | | 33,034 | 0 | 8,771 |
| LTC Properties Inc. | COM | 502175102 | 242 | 4,700 | SH | | SOLE | | 1,550 | 0 | 3,150 |
| Labrador Iron Ore Royalty Corp | COM | 505440966 | 838 | 69,270 | SH | | SOLE | | 46,535 | 0 | 22,735 |
| Martin Midstream Partners LP | UNIT LTD PARTN | 573331105 | 266 | 15,173 | SH | | SOLE | | 13,828 | 0 | 1,345 |
| Monmouth Real Estate Investmen | COM | 609720107 | 2,061 | 136,925 | SH | | SOLE | | 135,240 | 0 | 1,685 |
| National Grid PLC ADS | ADR | 636274300 | 1,056 | 16,807 | SH | | SOLE | | 12,265 | 0 | 4,542 |
| ONE Gas, Inc. | COM | 68235P108 | 774 | 11,082 | SH | | SOLE | | 6,077 | 0 | 5,005 |
| ONEOK Inc. | COM | 682680103 | 273 | 5,237 | SH | | SOLE | | 473 | 0 | 4,764 |
| ONEOK Partners LP | UNIT LTD PARTN | 68268N103 | 1,783 | 34,904 | SH | | SOLE | | 30,899 | 0 | 4,005 |
| Plains All American Pipeline L | UNIT LTD PARTN | 726503105 | 847 | 32,257 | SH | | SOLE | | 27,047 | 0 | 5,210 |
| Precinct Properties New Zealan | COM | 609327903 | 745 | 827,050 | SH | | SOLE | | 827,050 | 0 | 0 |
| Realty Income Corp. | COM | 756109104 | 1,087 | 19,699 | SH | | SOLE | | 14,242 | 0 | 5,457 |
| Rostelecom Long Distance ADR | ADR | 778529107 | 285 | 39,205 | SH | | SOLE | | 39,205 | 0 | 0 |
| Sabra Health Care REIT | COM | 78573L106 | 703 | 29,170 | SH | | SOLE | | 18,805 | 0 | 10,365 |
| Ship Finance International Ltd | COM | G81075106 | 628 | 46,190 | SH | | SOLE | | 36,480 | 0 | 9,710 |
| Spectra Energy Partners LP | UNIT LTD PARTN | 84756N109 | 662 | 15,440 | SH | | SOLE | | 12,035 | 0 | 3,405 |
| Suburban Propane Partners LP | UNIT LTD PARTN | 864482104 | 340 | 14,290 | SH | | SOLE | | 13,430 | 0 | 860 |
| TC Pipelines LP | UNIT LTD PARTN | 87233Q108 | 2,029 | 36,892 | SH | | SOLE | | 31,866 | 0 | 5,026 |
| Total SA ADR | ADR | 89151E109 | 694 | 13,989 | SH | | SOLE | | 12,599 | 0 | 1,390 |
| USA Compression Partners LP | UNIT LTD PARTN | 90290N109 | 443 | 27,086 | SH | | SOLE | | 23,301 | 0 | 3,785 |
| Urstadt Biddle Properties Inc. | COM | 917286205 | 930 | 46,959 | SH | | SOLE | | 37,239 | 0 | 9,720 |
| Verizon Communications Inc. | COM | 92343V104 | 699 | 15,658 | SH | | SOLE | | 10,958 | 0 | 4,700 |
| Vermilion Energy Trust | COM | 923725956 | 857 | 27,044 | SH | | SOLE | | 22,779 | 0 | 4,265 |
| Air Products & Chemicals Inc. | COM | 009158106 | 1,455 | 10,174 | SH | | SOLE | | 9,184 | 0 | 990 |
| Anadarko Petroleum Corp. | COM | 032511107 | 616 | 13,576 | SH | | SOLE | | 12,111 | 0 | 1,465 |
| Apache Corp. | COM | 037411105 | 412 | 8,595 | SH | | SOLE | | 7,100 | 0 | 1,495 |
| AptarGroup, Inc. | COM | 038336103 | 2,064 | 23,759 | SH | | SOLE | | 18,608 | 0 | 5,151 |
| AstroNova, Inc. | COM | 04638F108 | 188 | 14,562 | SH | | SOLE | | 9,422 | 0 | 5,140 |
| Automatic Data Processing Inc. | COM | 053015103 | 2,535 | 24,740 | SH | | SOLE | | 19,845 | 0 | 4,895 |
| Avery Dennison Corp. | COM | 053611109 | 1,716 | 19,422 | SH | | SOLE | | 15,665 | 0 | 3,757 |
| Banco del Bajio | COM | ACI0VM9Y9 | 786 | 445,000 | SH | | SOLE | | 445,000 | 0 | 0 |
| Bank of Ireland | COM | 306062902 | 288 | 1,096,540 | SH | | SOLE | | 1,096,540 | 0 | 0 |
| Bemis Co. Inc. | COM | 081437105 | 1,301 | 28,123 | SH | | SOLE | | 27,953 | 0 | 170 |
| Breitburn Energy Partners LP | UNIT LTD PARTN | 106776107 | 6 | 154,074 | SH | | SOLE | | 130,994 | 0 | 23,080 |
| C.R. Bard Inc. | COM | 067383109 | 1,310 | 4,144 | SH | | SOLE | | 2,829 | 0 | 1,315 |
| CDK Global Holdings LLC | COM | 12508E101 | 829 | 13,352 | SH | | SOLE | | 10,708 | 0 | 2,644 |
| Church & Dwight Company, Inc. | COM | 171340102 | 580 | 11,187 | SH | | SOLE | | 8,075 | 0 | 3,112 |
| Colgate-Palmolive Co. | COM | 194162103 | 2,463 | 33,225 | SH | | SOLE | | 27,207 | 0 | 6,018 |
| Comcast Corp. | COM | 20030N101 | 764 | 19,637 | SH | | SOLE | | 8,938 | 0 | 10,699 |
| Credito Real Sofom ENR | COM | B8DST5905 | 299 | 191,458 | SH | | SOLE | | 191,458 | 0 | 0 |
| Cummins Inc. | COM | 231021106 | 544 | 3,352 | SH | | SOLE | | 2,897 | 0 | 455 |
| Dentsply Sirona Inc. | COM | 24906P109 | 627 | 9,676 | SH | | SOLE | | 7,717 | 0 | 1,959 |
| Ecolab, Inc. | COM | 278865100 | 456 | 3,435 | SH | | SOLE | | 2,275 | 0 | 1,160 |
| Emerson Electric Co. | COM | 291011104 | 709 | 11,900 | SH | | SOLE | | 9,490 | 0 | 2,410 |
| Enerplus Resources Fund Trust | COM | 292766102 | 654 | 80,598 | SH | | SOLE | | 65,368 | 0 | 15,230 |
| FB Financial Corp. | COM | 30257X104 | 889 | 24,555 | SH | | SOLE | | 16,510 | 0 | 8,045 |
| Fastenal Co. | COM | 311900104 | 356 | 8,170 | SH | | SOLE | | 6,350 | 0 | 1,820 |
| Fiserv Inc. | COM | 337738108 | 2,776 | 22,688 | SH | | SOLE | | 18,092 | 0 | 4,596 |
| General Mills Inc. | COM | 370334104 | 1,002 | 18,095 | SH | | SOLE | | 14,250 | 0 | 3,845 |
| Givaudan SA ADR | ADR | 37636P108 | 734 | 18,269 | SH | | SOLE | | 14,539 | 0 | 3,730 |
| Graco, Inc. | COM | 384109104 | 2,190 | 20,040 | SH | | SOLE | | 17,109 | 0 | 2,931 |
| Grainger, WW Inc. | COM | 384802104 | 1,359 | 7,529 | SH | | SOLE | | 5,839 | 0 | 1,690 |
| Grupo Aeroportuario Del Pacifi | ADR | 400506101 | 1,991 | 17,727 | SH | | SOLE | | 16,117 | 0 | 1,610 |
| HFF Inc. | COM | 40418F108 | 245 | 7,050 | SH | | SOLE | | 7,050 | 0 | 0 |
| Hasbro Inc. | COM | 418056107 | 558 | 5,000 | SH | | SOLE | | 2,485 | 0 | 2,515 |
| Heineken NV ADR | ADR | 423012301 | 1,363 | 27,971 | SH | | SOLE | | 22,715 | 0 | 5,256 |
| Honeywell International Inc. | COM | 438516106 | 1,150 | 8,630 | SH | | SOLE | | 6,800 | 0 | 1,830 |
| Hormel Foods Corp. | COM | 440452100 | 2,308 | 67,672 | SH | | SOLE | | 54,789 | 0 | 12,883 |
| Hubbell Inc. | COM | 443510607 | 909 | 8,030 | SH | | SOLE | | 6,000 | 0 | 2,030 |
| IMI PLC | COM | BGLP8L902 | 317 | 20,425 | SH | | SOLE | | 20,425 | 0 | 0 |
| ITT Corp. | COM | 45073V108 | 1,553 | 38,659 | SH | | SOLE | | 31,209 | 0 | 7,450 |
| Illinois Tool Works Inc. | COM | 452308109 | 650 | 4,540 | SH | | SOLE | | 2,980 | 0 | 1,560 |
| Imperial Oil Ltd. | COM | 453038408 | 208 | 7,123 | SH | | SOLE | | 7,123 | 0 | 0 |
| Infraestructura Energ Nov | COM | B84XBP909 | 252 | 47,150 | SH | | SOLE | | 47,150 | 0 | 0 |
| Ingredion Inc. | COM | 457187102 | 2,214 | 18,576 | SH | | SOLE | | 15,336 | 0 | 3,240 |
| International Flavors & Fragra | COM | 459506101 | 1,096 | 8,115 | SH | | SOLE | | 6,035 | 0 | 2,080 |
| Johnson Controls International | COM | G51502105 | 894 | 20,616 | SH | | SOLE | | 19,797 | 0 | 819 |
| Kimberly-Clark Corp. | COM | 494368103 | 1,379 | 10,683 | SH | | SOLE | | 8,352 | 0 | 2,331 |
| LKQ Corp. | COM | 501889208 | 440 | 13,343 | SH | | SOLE | | 11,113 | 0 | 2,230 |
| Leggett & Platt Inc. | COM | 524660107 | 1,129 | 21,484 | SH | | SOLE | | 16,895 | 0 | 4,589 |
| Lincoln Electric Holdings Inc. | COM | 533900106 | 538 | 5,845 | SH | | SOLE | | 4,090 | 0 | 1,755 |
| McCormick & Company, Inc. | COM | 579780206 | 1,672 | 17,145 | SH | | SOLE | | 15,099 | 0 | 2,046 |
| McDonald's Corp. | COM | 580135101 | 1,760 | 11,489 | SH | | SOLE | | 9,979 | 0 | 1,510 |
| Mechel Open Joint Stock Co. AD | ADR | 583840608 | 74 | 16,051 | SH | | SOLE | | 16,051 | 0 | 0 |
| Mettler-Toledo International, | COM | 592688105 | 1,941 | 3,298 | SH | | SOLE | | 2,915 | 0 | 383 |
| Myriad Genetics Inc. | COM | 62855J104 | 423 | 16,382 | SH | | SOLE | | 7,664 | 0 | 8,718 |
| Nordson Corp. | COM | 655663102 | 785 | 6,468 | SH | | SOLE | | 3,928 | 0 | 2,540 |
| Norfolk & Southern Corp. | COM | 655844108 | 1,602 | 13,163 | SH | | SOLE | | 12,183 | 0 | 980 |
| Novartis AG ADR | ADR | 66987V109 | 1,228 | 14,709 | SH | | SOLE | | 10,885 | 0 | 3,824 |
| Novolipetsk GDR | ADR | B0RTNX900 | 304 | 15,715 | SH | | SOLE | | 15,715 | 0 | 0 |
| Occidental Petroleum Corp. | COM | 674599105 | 458 | 7,648 | SH | | SOLE | | 7,648 | 0 | 0 |
| Omnicom Group | COM | 681919106 | 2,214 | 26,711 | SH | | SOLE | | 20,714 | 0 | 5,997 |
| Parker Hannifin Corp. | COM | 701094104 | 1,281 | 8,018 | SH | | SOLE | | 6,098 | 0 | 1,920 |
| Paychex, Inc. | COM | 704326107 | 1,602 | 28,127 | SH | | SOLE | | 21,646 | 0 | 6,481 |
| Pengrowth Energy Trust | COM | 70706P104 | 119 | 150,784 | SH | | SOLE | | 150,784 | 0 | 0 |
| Praxair, Inc. | COM | 74005P104 | 1,673 | 12,622 | SH | | SOLE | | 11,212 | 0 | 1,410 |
| Prosperity Bancshares Inc. | COM | 743606105 | 2,094 | 32,596 | SH | | SOLE | | 25,146 | 0 | 7,450 |
| Qiwi PLC | COM | 74735M108 | 270 | 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 | 1,145 | 14,919 | SH | | SOLE | | 12,519 | 0 | 2,400 |
| Sherwin-Williams Co. | COM | 824348106 | 1,902 | 5,418 | SH | | SOLE | | 4,540 | 0 | 878 |
| Smith & Nephew PLC | COM | 83175M205 | 890 | 25,544 | SH | | SOLE | | 25,004 | 0 | 540 |
| Snap-on, Inc. | COM | 833034101 | 1,426 | 9,025 | SH | | SOLE | | 7,170 | 0 | 1,855 |
| St. Gobain SA | COM | 738048909 | 904 | 16,952 | SH | | SOLE | | 16,842 | 0 | 110 |
| Straumann Holdings AG | COM | 715683900 | 948 | 1,665 | SH | | SOLE | | 1,120 | 0 | 545 |
| Sunstone Hotel Investors Inc. | COM | 867892101 | 216 | 13,417 | SH | | SOLE | | 13,417 | 0 | 0 |
| Synchrony Financial | COM | 87165B103 | 798 | 26,770 | SH | | SOLE | | 16,035 | 0 | 10,735 |
| Tennant Co. | COM | 880345103 | 836 | 11,330 | SH | | SOLE | | 8,935 | 0 | 2,395 |
| The Clorox Co. | COM | 189054109 | 558 | 4,190 | SH | | SOLE | | 4,190 | 0 | 0 |
| Toronto Dominion Bank | COM | 891160509 | 1,525 | 30,270 | SH | | SOLE | | 25,355 | 0 | 4,915 |
| US Physical Therapy Inc. | COM | 90337L108 | 874 | 14,467 | SH | | SOLE | | 11,800 | 0 | 2,667 |
| Xylem, Inc. | COM | 98419M100 | 987 | 17,812 | SH | | SOLE | | 14,682 | 0 | 3,130 |
| Yandex NV | COM | N97284108 | 365 | 13,900 | SH | | SOLE | | 13,900 | 0 | 0 |
