I rode MRT to Near Lot 10 station, then took monorail back which is just in front of SW.
In theory, the completion of MRT should enhance the crowd traffic flow, but still crowd may still prefer "newer" malls adjacent.
What a contrast just a street away, in term of crowd.

At least Gurney Plaza remains the so called "top malls' in Pg.

Some of fear on reit is unwarranted, especially on interest rate front.

Local interest rate won't shoot to the roof.
Max may be another 25 bps hike only, provided GDP and inflation data are at the hot side.
Currently, BNM is more and less on neutral side based on latest statement published.

The fear should be on drop on DPU due to negative rental reversion and occupancy.
Those reit has no much issue on these front shouldn't plunging too far further.

Reit selldown seems like cooling down across.

Most have rebounded from their low.

Dispose all the property, and dissolving and unit holder get back all the capital, may be a better alternative.
After all, its NAV is high, even sell at 20% discount to its NAV, still have more than Rm1.50.

Amfirst, Towereit, both are trading at significant discount to its NAV due to not so good earning number.

Office space reit is really under pressure.

A little surprise, Twrreit share price still holding on, no sell off.

With new coming plenty of office space around TRX and many other area, office space lease really face tough competition.

IGBreit changes its distribution policy to quarterly.
2.48 cents

If 1utama, then it may excite the reit market a bit.

We need top quality reit portfolio to spur the interest of reit, as well as potential newer type of reit, like data centre, shipping trust etc. so that reit investors can have more diversification on the asset sector.

Not familiar with its malls.

Nowadays the word of malls and offices are like haunting reit investors...

But substantial investors are busy in the market...

Ya,may be less competition, less expenses for such kind of malls.

But, this kind of "malls" need first hand knowing while outsiders never visit the place nor knowing it, may have hard to assess it.
While for the like Midvalley, Pavillion, Gurney, we know how the popularity they are. So much easier.

.

Not a must nowadays.
It is more depended on individual preference to have a remiser or not.

Yes, Mreit is traded as same as other ordinary stock.

When online trade was at infancy stage, many broker house may still insist remisier to "approve" any online order, so that clients won't make mistake and incur losses.
Back then even with the need to remisier last time, remisiers that I deal with are quite professional enough generally, even they are on leave, or whatever out of their desk, there was always a replacement person to handle any order.

But nowadays, most online order are "straight thru" to KLSE system, any by pass remisier "approval".
Once key in the order, it appears in the KLSE price quote/match status.

Just speak from my experience at least with 3 brokers houses/remisiers that I have deal with it.

Normally, if the reit dividend can sustain, aka maintain its good dividend amount/yield, the reit price highly unlikely to plunge 50%.

Reit price always correlated tightly with its dividend, unless interest rate shoot to the roof, by then it is another story.

Reit are steady across generally, despite general and regional/world market selldown.

It is too far fetch to expect reit would have a return 10+% pa. Unless one catches it during the bottom in the downturn.
I hold some reit more than 7-10 years already, typically like Axreit, Starreit (now YTLreit), Qcap (now MQreit).
Those bought during 2007-2008 indeed made some good capital gain, on top of dividend yield each year.
Lowest for Axreit was around 0.50 ~ 0.6x (after taking account of 1:2 split), Starreit should be in the region of 0.8x~0.9x+, Qcap at one times below 1.00.

A more realistic expectation should be in the region 5~8%.
It is a yield play instead of capital gain.
Capital gain is like bonus on top of of the yield.

Please do not use PE to evaluate reit.
Reit's P&L can easily be skewed once they have property revaluation.

Look for its DPU, aka yield to justify.

Reit is all about yield.

Total annual dividend/reit price = yield.

PE is not an absolute indicator to see a stock price is high or not.
A no prospect stocks or earning/income likely to deteoriate in near future, even PE10 also can consider expensive.
A good prospect and stable stock, whereby income likely to growth further PE20 may consider as cheap.

In reit, you can forget about its PE.
Yield, NAV, stability of income are predominant factor in selecting a good reit.

Ask youself,
Midvalley, Pavillion reit that always 100% full occupancy with PE18
or
ABC malls that PE10, but have difficulty to lease out most of its space?

Which most investor prefer?

No such thing of which one is good or another is better.
You need to study their property portfolio.
As said, you cannot rely on number alone to judge.

Atrium has a few warehouses that lease primary for logistics.
While Pavreit crown jewel is Pavillion.

Which one is easier to rent out aka provide stable income throughout?
and has the ability to raise rental rate?

Last time, many years ago, Atrium's DPU once dipped significantly due the lease expired and a warehouse which left vacant for months, before securing new tenant.
Its share price also dipped to around 70+ cents when its DPU dipped.
Its share price recovered to current level once DPU being revived.

So the risk and reward between them are different.

Study their properties instead of PE number.

Axisreit has a number of warehouses for logistics.

But currently the reit is moving towards more on industrial (based on its portfolio and acquisition trajectory), which is more stable and longer lease.

Whether e-commerce booming or not, warehouses are still needed one as long as trade is booming.
Last time, traders and middle man store goods in warehouses, and distributing to retailers,
now with e-commerce, it can ship directly and eliminate the middle man.

The changing means warehouses nowadays need to be more "high tech" (automated, goods traceable etc) instead of just a space to store goods.

LOL, 35 years?
Where you got this kind of number.
Nobody sign a lease with 35 years for industrial, warehouses property.

Fyi,
Axreit's new Nestle warehouse will contribute positively (about 19 mil pa gross rental, 10% of current revenue) in the second half of 2018 (currently no income generated), so second half of 2018, we may see improvement in DPU.

Market is always pricing its future earning, not past earning.
If keep on using past number and PE to justify, one can easily fall into so called "PE trap" in investment.

Generally, market is not "stupid", those with high yield and low PE number, generally their future is up to scrutiny aka more risk that those with high PE with stable outlook one.
Similar to reit with stable outlook one, their yield generally will be lower compared to those outlook which is more challenging one.

So, it is up to individual preference to expose those risk, if goes well, then you get better reward, or vice versa.

Yes, I do agree Axreit is a bit "expensive" currently.