Apr 14, 2020

Cory Diary : Reits/Trust Portfolio Review

Have not been so active here and expects to be in the near future unless market keeps me more excited. I have taken up writing , drawing cutie, and recording down my plans literally on paper. I find this keep me interested as I pan out my stock plan when the market  beat down my portfolio. Recent weeks the portfolio looks much better as Reits re-bounded.

I made some new acquisition recently which I would have not, if not due to Covid-19 driven prices. My portfolio YTD is smaller than End Year 2019 by about 6.5% excluding cash. However one interesting thing is Year 2019 theoretical dividends $53,144. Achieved $52,899. For Year 2020, theoretical dividends $62,168. So about $10K free dividends more. So if the market goes lower, I would probably hit for another $5k or more dividends.

Below is the stock list in my portfolio which I like to talk briefly on each of them. This are just Reits/Trusts in today scope. I think going through why I have them is important because we need most of them in sound footing to deliver or well mitigated.


ASCENDAS-ITrust

This is recent buy. A price I would never imagine to attempt Pre-Covid. Is my search for non-sg exposure that I decided to have some on this which is heavily discounted. Is an infant position. Reason being India Covid-19 situation is also being played out.

ACCORDIA GOLF TR

Have been holding to my existing shares since Pre-Covid if I could remember. The non-binding proposal to buy the golf course is taking longer than expected. Japan aren't handling perfect so far which probably put this into extended limbo. Nevertheless I feel this is a hold type of situation.

AIMS APAC REIT
One of the niche ones around. Being Industrial Reit means it will not be as impacted as retails. However there is still large GDP impacts and the stock price got a large hits. After averaging down at low prices, the price is recovering so to speak but I am reluctant to add even more. The yield is good but I don't see dpu will be significantly impacted for now. This is one guru that I respect top position but I am just a smaller fry to follow.

ASCENDAS REIT
King of Reit. Cannot miss this one. I have been trading on this for long time. At one point zero position. A 5 digit gains ytd and a sizable position build up. As Business Park and Industrial play, the impact similar to other Industrial Reits on current situation.

CAPITAMALL TRUST
A core reit position that I retained in my portfolio that took a major hit it rides down with the virus impact spreading across the society. As in DBS case, there is limited room for me to average down due to the large exposure. I did play with trading positions and took small profits of similar positions. At near to 7% yield, even without dpu throughout this year, I would consider CMT a steal.

CapitaR China Tr
Have some on lowered prices before it goes deeper down in pricing. This is one Reit that I have the opportunity to initiate and buildup overtime as the price goes lower. Quite happy on this. Reits in China I prefer to ride alone with establish players. So only this one I would consider. The yield is great and again I would not have build-up without the price being lowered significantly.


IREIT Global

A Reit with investment in Germany previously. In bad times, this Reit is a gem. The yield is good at current 8%. I was buying near to 10% for some of my lots. Unfortunately there is always fear and I do not hold more than 5% allocated. The fundamental and sponsors are good. On hindsight this should be around 7% allocation considering I am looking for non-sg exposure to increase on. The discount is still good despite price run-up but I need to allocate some discount  to recession situation which could last same or longer than Covid does.


MAPLETREE IND TR

Small position in this and unfortunately the price run-up just when I released some large lot of trading positions. Not something I would cry about as the yield is so so but the fundamental works well against Covid situation due to DCs and Industrial Parks. I think it will take another major drops for me able to collect back as dividend play.


FRASERS L&I TR
So glad to be back on this counter and with a good enough position build up before the price start running up. This is the stock I picked that do not have much sg exposure and Industrial. The merger with FCOT did not damp my view much as the yield is good and is heavily discounted from it's high. 


MAPLETREE NAC TR
Another position that I manage to buy-back and buildup. This counter has two blackswans badges. Riots and Covid if we put tradewar aside. I think there is still room for price appreciation for this one but allocation wise I won't be be increasing near term. 


NETLINK NBN TR
The world can collapse but near to mid term, the returns will be hardly impacted as users stay at home. Is currently near to the year start prices so I would thing that theoretically with the major printing press going on. we could bet on much more better valuation. I am satisfied it stays same.


As I mentioned, have been playing pens and papers recently. Unless the market significantly reverses it gains today, STI would have achieves 38.2% Fibo nicely. The next level will be 50% percentage points around STI 2715. Is a middle of not much support lines. Being conservative, I would have the support at STI 2678. The higher will be 2752. Personally I think highly unlikely the market will extend to hit 61.8% Fibo range of STI 2834 so quickly. If so, I would start some sales.


Staying vested seems so nice today as I realised trading just ended.



Cory
2020-0414

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