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Market on sale again - what are you buying?

Feeling a bit like Moses every morning when I log into my trading account and review my watchlist.

Huge sea of red.

Only difference being, I cannot part a road through it with a wave of my staff.

Ascendas HTrust

I sold all of my ascendas htrust on 25 July @ 1.05.  Happy to take the money off the table basically. And certainly, did not think that Ascott BT REIT is worth the 1.30 issue price. I was up about 53k on capital gains alone, not including dividends received since 2017. So I am rather pleased with the outcome.

As a result, I am looking at the red sea with a tiny bit of cheer. Well at least I may not have a problem finding a new home for the recycled capital.

Eagle HTrust

Just days before my sale of AHT, I also initiated a small position in Eagle Htrust. Just so I still retain some hospitality-related REIT in my portfolio. Being a new REIT with no track record, I am careful to size my position appropriately.  Bought about 21 lots at USD 0.685. So far so good. Holding up. I thought the dumping was a bit overdone and 0.685 entry gave me a margin of safety (and close to 8% yield if the forecast in the prospectus is worth the paper it was printed on).

CRCT

CRCT intends to raise funds for buying three new properties via a private placement and a preferential offering to existing shareholders. The preferential offering is a 87 shares per 1000 shares held, priced at 1.42-1.44.  A bit non-plussed to be honest. With CRCT trading at 1.52 right now, it is barely any discount. Unless I cannot find other places to park my funds, I do not think I will apply for any excess beyond my allotment.


I am now on the prowl for good deals. The usual suspects are the three banks, although i have a preference for DBS and OCBC.  Both offer >4% yields now and may be considered defensive plays. I am just hoping there is more depth to the current correction (GO DONALD AND XI!) and hopefully I can pick DBS up below 24 or OCBC below 10.


All the REITs still look very richly priced to me at this time, except one or two which I am monitoring very closely. Heh. Better not disclose which REITs these are until I manage to lay my hands on them. HAHA.

Onward to FI my friends.




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