Got $1,000? These Canadian Stocks Look Like Smart Buys Right Now

A thousand dollars doesn’t feel like much in a market that talks in the millions, but that’s exactly why Canadian stocks look smart right now. When prices pull back or move sideways, smaller amounts can actually work harder because you’re not chasing perfection. You’re buying pieces of real businesses at moments when patience matters more than hype. With $1,000, the goal isn’t instant wealth; it’s starting a habit of owning companies that generate cash, serve essential needs, and can quietly compound over time. Canada’s market is full of these steady operators, and right now several are priced as if no further upside is baked in.

H

Hydro One (TSX:H) is about as straightforward as it gets, which is why it often gets overlooked. It owns and operates Ontario’s electricity transmission and distribution network; therefore, it gets paid to move power regardless of how the economy is performing. Demand doesn’t disappear, as homes still turn lights on, and businesses still need electricity. That makes Hydro One’s revenue unusually predictable. Recent earnings reflected this stability, with regulated rate base growth supporting steady revenue and earnings even as broader markets stayed choppy. The dividend continues to grow modestly, which matters for long-term investors who care about reliability over excitement.

From a valuation and performance perspective, Hydro One hasn’t been flashy, and that’s the appeal. Shares have lagged faster-growing sectors, keeping expectations grounded. For a $1,000 investment, this kind of stock offers peace of mind. You’re not betting on a breakthrough. You’re buying a business that does one thing well and gets paid for it year after year. Over time, reinvested dividends can quietly do the heavy lifting, especially when bought without a premium attached.

SIA

Sienna Senior Living (TSX:SIA) plays in a very different space, but the long-term logic is just as compelling. It operates long-term care and retirement communities across Canada, serving an aging population that is only getting larger. Earnings have been improving as occupancy rates rise and cost pressures slowly ease from post-pandemic extremes. Government funding provides a stable revenue base, while private-pay retirement homes add upside as demand improves. The business isn’t immune to challenges, but the demand profile is structural, not cyclical.

The share price tells a cautious story, which is why SIA stands out for a small investment. Valuations remain compressed compared to historical norms, reflecting lingering concerns about labour costs and margins. For patient investors, that caution creates opportunity. With $1,000, Sienna offers exposure to a long-term demographic trend at a price that already assumes plenty of bad news. If execution continues to improve, the upside doesn’t need perfection.

NWH

NorthWest Healthcare Properties REIT (TSX:NWH.UN) is another Canadian stock the market has been quick to dismiss. It owns hospitals and medical office buildings across several countries, leasing space to healthcare providers on long-term contracts. Earnings have been pressured by higher interest rates and asset sales, but the underlying properties remain essential. People don’t stop needing healthcare because rates are high. Recent results showed progress on balance sheet repair and asset recycling, which has helped stabilize cash flow.

From a performance and valuation standpoint, NWH.UN still trades at a deep discount to its asset base. The distribution remains high, and while it carries risk, it’s not based on empty buildings or discretionary tenants. For a $1,000 investment, this is a classic contrarian income play. You’re getting paid to wait while management works through a difficult period, and any normalization can add meaningful upside over time.

Bottom line

A thousand dollars works best when it buys time, not excitement. Stocks like Hydro One, Sienna Senior Living, and NorthWest Healthcare won’t dominate headlines, but they don’t need to. They serve essential needs, generate real cash, and are priced for modest expectations. Yet even now, here’s what $1,000 could bring in for each.

COMPANYRECENT PRICENUMBER OF SHARESDIVIDENDTOTAL ANNUAL PAYOUTFREQUENCYTOTAL INVESTMENTH$53.9118$1.33$23.94Quarterly$970.38SIA$21.0447$0.94$44.18Monthly$988.88NWH.UN$5.12195$0.36$70.20Monthly$998.40

While modest, that’s often where the smartest long-term investment decisions begin, especially when you’re starting small and thinking ahead.

The post Got $1,000? These Canadian Stocks Look Like Smart Buys Right Now appeared first on The Motley Fool Canada.

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More reading

• 3 TSX Stocks to Prepare for a Potential Bear Market
• Forget Risk: 3 Safe Stocks Canadians Can Buy for Steady Returns
• For Passive Income Investing, 3 Canadian Stocks to Buy Right Now
• 2 Superbly Simple Canadian Stocks to Buy With $2,000 Right Now
• 2 Reliable Monthly Paying Dividend Stocks for Steady Cash Flow

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends NorthWest Healthcare Properties Real Estate Investment Trust. The Motley Fool has a disclosure policy.