As long as it doesn't go as "crazy" as Mreit, I viewed some are still in "acceptable" region, just not as attractive only.

May be wait for May month, see whether got phenomena "sell in May, go away."

Might as well trade it, instead try to time the dividend.

CMMT is quite easily to trade upon.
Low 1.9x buy,
Above 2.0x sell

It is always see sawing between these range.

Internet business or retail booming, they are basically rather the same for logistics business.
If people don't buy through online, people will buy through retailer/malls.
Both channel need logistic services.

The difference is instead of bulk delivering to malls, with internet business it turns out to be door to door service for logistics offering companies.
The booming one is businesses that offering door to door service, while for logistics reit that their main business is lease out empty warehouse to logistics business companies, they may not reap as much.
In fact, if internet business lead to more efficient in term of goods deliverying, and can get rid of "middle man" storage, the need of large storage may become lesser, just like JIT system can reduce the needs of storage issue.

The mian problem of logistics property is that they (empty warehouses) are easily replaceable.

If next door warehouse offering cheaper rental, tenant can easily move out as compared to factories, and retail malls (whereby prime location has tremendous crowd that other place couldn't offer)

For Mreit, Atrium case is the good reference whereby the short WALE and tenants turnover issue causing the DPU to be yoyo in some period of time.

Anyway, don't get me wrong, I don't mean negative on logistics reit, in fact, I agree logistic has good long term view, but location of those logistic properties also an important factor, that we need to aware of logistics reit risk as well.

0.95 also hard to reach, unless we see big plunge of AUD.

Ascendas is one of biggest cap reit, and STI component, and well diversified across industrial sector.

Normally, this kind of stock/reit is fund manager favourite as well as index fund/ETF, so there are always plenty of interest in this kind of stock, so don't expect its yield to be a high side one.

It is more a "defensive" stock.

What I see is they are a little expensive, but still "investable".

Most reit yield are in the range 5.5% to 7%, still a decent yield as compared to bond yield.

The one highly "compressed" one is Mreit, as I can't find any reit with a net yield of 6% above.
While high quality one is below 5%.

When market crashing down, the first thing to do is to review the reit invested.

High leveraged, short WALE and poorer quality portfolio properties are most vulnerable in recession time.

Yup, have to agree on this.

If reit yield is compressed until reaching bond/FD yield, then one can opt to reduce the stake and park some on those area.

Reit price won't forever go up until the roof one, it is not like ordinary stock that sky is the limit.

Reit primary objective is always a yield play target tool.

Then Data centre reit is the new theme...

Drop because right issue generally will be issued at a price discount to existing market price (who want to buy the right issue if the price is set as same as market price)

Existing market share price 1.00
Right issue 1:1 at price of 0.80

Market will adjust its ex-right price at 0.90

As the ex-right of 0.90 is equivalent to 1.00 prior before right, so the "drop" is not actually "drop".

At the meantime, the extra share issued may have dilution effect, if the extra money proceed from the right issue is not yield accretion, hence market force may adjust its share price lower than 0.90 to meet the demand of investors coupled with existing shareholders that may dislike to fork out extra money and result in selling the existing stake that lead to drop in share price.

That's why we generally see a "drop" when right issue is announced or after ex-date.

Whilst if the right issue is yield accretion, it may actually provide a good opportunity to enter the stock.

Unless one is investing in reit with leverage, if not, you can't really compare between them.

Reit also can have high appreciation if one bought at right time, typically buying reit at distressed time.
Now probably can't have too much appreciation, as most reit are fairly/fully valued across.

The discount of reit price was way huge than property during market panic time specifically during 2008.

One is apple, one is orange.
It depends on individual preference.
If both also like, then I don't see why not.

Shareholder is more a right term.

You can label it as pseudo-property owner if you wish.

Most reit are not "attractive" across, but still "investable" particularly for corporate/fund pov.

Recently reit trade volume is spiking a bit across, may be fund managers are positioning themselves for next week Fed meeting.

Fist reit volume suddenly spike tremendously.

Fraser Logistic is having an advance distribution due to private placement.

While KDC has a spike in price + volume.

This post has been edited by cherroy: Jun 28 2017, 11:35 AM

It is a billion dollar question how will be the effect of "Fed "balance sheet reducing" on reit as well as toward overall financial market.

It is unprecedented in the financial world history.

But I do not think Fed can/will reduce its balance sheet in significant way, probably the reduction will be in snail pace, I doubt the 4.5 trillion can be shrank down entirely in my life time as well.

Mall won't totally die one, especially those at prime area.

Online shopping won't able to replace F&B sector, which lead to some malls already started to concentrate on this sector.

The EPS/DPU of CMT is highly predictable, result probably come in flat.

Reit price generally soar a bit when DPU is coming.
Somemore recently, reit are being supported by the plummeting treasuries yield.

Keppel reit DPU is dipping in the latest Q result.

Buy a few week before cum...

Actually, it makes little difference if it is for long term investing.