Bro,... emm, thank you for agreeing with me,... BUT,.. emm,... I must say DW did list down his dividend stock holdings and I did see they are all in the green, with better margin-of-safety than mine in some counters.

I bought many of my counters prior to the GFC in 2008/9, but later had to take profit because the counters started to fall in quality,... egs Singpost, Starhub and First REIT,... After selling-off these counters, I re-entered into the current ctrs I'm holding, but I became a 'late-enterer' then.

I saw many other dividend bloggers in SG not declaring their stock positions, hence, there is no complete information as to whether they are in the green in their dividend stocks.

Sure bro,...

Perhaps DW could reply with his (your) opinions over mine over at the SREITs thread if so,... Thank you,....

Actually, bro Cherroy,... I look at it in another way,... a GOOD REIT may have higher yield, but the price will soon catch-up with it when investors start to notice it.

I am vested in SG REITs,... let me use these as examples to illustrate here,...

1) When First REIT first started listed in 2005, I think, the yield was quite high, being a hospital REIT. But of course, tere will be arguments saying that this REIT had higher yield because of the props being in Indonesia (prone to volcanic disruptions, etc),... but as time ges by, it proved to be good, and the price rose.

2) The Mapletree group of REITs,... the dpu grew, the price grew together,... another eg,.. Frasers Centrepoint Trust,.. the dpu grew, the price grew too, causing the yield to drop.

I believed,... as a REIT investor, one can only try to take a risk to GO IN TO A REIT early, before the price runs away.

When the fundamentals of a REIT start to chg, good egs here would be First REIT, Sabana REIT, Cache Logistics Trust and ESR-REIT today,... one should then be able to trap this happening, and hopefully, with a good margin-of-safety built from many years of holding, TAKE PROFIT instead of cutting loss.

The jurisdiction is also important,... and how the regulators manage the REITs,...

IF a jurisdiction is such that it is hard for the landlord to impose proper rules and habits for tenants to pay rents, then,... I must say chances of defaults would be higher,... this would be one of the weaknesses posed by a jurisdiction.

Perhaps,... this is another risk factor of investing in REITs,... Jurisdictional Risk.

Bro Boon,... losing money,.. as a live example from my very own experience - HPH Trust !

The dpu is falling, causing the unit price to fall in tandem...

I attended the AGM once a few years ago. The price then was around 50c. Some investors there told me : This ctr IPO'ed at 1.00, you know.... Now dropped to half already,... where can drop some more ??!!??,....

I have lost a small amt by then, which prompted me to attend the AGM.

I cutloss immediately after that, losing a few cts per unit against my Buy Price of 54.56c...

So,... yes,... lost money myself.

As a matter of curiosity, this afternoon, I checked,... the price of HPH Trust now is at 15.7c and based on my earlier Buy Price of 54.56c, I have lost 72.11%. I held on to 100 units in my portfolio to study this ctr !

Yes bro,... if we are going to look in absolute sense into the DY of a yield only, then a high DY can still make one lose money after sometime be eating up into the principal. It's just like in a war,... one army may win a particular battle, but it can also lose the whole war.

We have to fight the war in totality, ie by winning as many battles as possible to capture the war.

I used to think like the above. but as the years went by,... I discovered it's not so simple as that,....

Following are further initiatives to strengthen on governance for REITs, and hence, to protect investors' money,...

This is the Jurisdictional Risk I was talking abt last Thursday,...

http://www.theedgesingapore.com/news/regul..._eid=89d8698c85

For REITs, for myself,... primarily,..my main focus would be on its distributable income, and then if there has been any activities that increased or decreased the number of units in circulation.

The recent pulbacks of the MREITs could be because of the anticipation of BNM not cutting rates anymore this year.

Can't comment much abt bond prices,.. but logically, bank shares couldn't go up if the BNM OPR stays put due to interest earnings. If BNM cuts the OPR, chances are bank sp's will drop,... unless, of course, we say lower OPR will decrease loan rates and there will be more loan growth. But loan growth needs to be matched with loan quality too,... no point if lots of defaults later on.

Got source, bro ? This is good : Kg Baru REIT,... hehehe,...

Ok. That's this country then,...

Parkway group of hospitals too,... under Parkway Life REIT,...

Yes bro, you are right !

At today's price, if you are not holding any at lower prices, it's not worth it anymore,... I was saying earlier,.. for REITs which we think are good, we have to buy-in early,... otherwise, shld the price runs away, then it's not worth it anymore.

Very true,... this is the phenomenon today after employees all over the world started working from home and telecommuting.

I read many articles in the last many days mentioning :-
1) big city employees in the USA started shifting to the suburbs just so that they can work from their homes in the suburbs.
2) Credit Suisse in Switzerland saying they need to layoff employees and would not need so much office space anymore.
3) 4 out of 5 emplyees in SG preferred to work from home.

I wonder how will all the above affect the Office REITs in the world ?

I'm not sure abt MY, but SG had a residential REIT earlier. It had assets in Japan, and the REIT goes by a Japanese name.

It had since been delisted.

The closest today would be Ascott REIT, which has serviced residences among its assets.

Looks like office space is going to be directly-correlated with economic development then, going by your narrative in the above.

Think I'd start to stop loading-up on Office REITs and Diversified REITs which has a big percentage inside Office space.

https://www.channelnewsasia.com/news/asia/m..._uid=F8ClKV7TQA

Extra costs need to be borne by employers if the Office continues to be used as a working place rather than telecommute.

Hence, if Office rental is high, this will certainly push employers to encourage the WFH concept.