Due to the run up in share price, I have taken profits off Alibaba.
About 12% of my stake in Alibaba was sold. I will hold the rest of the stake until it reaches HKD$210 (my estimated forward PE of 25). Should Alibaba return to the HKD $100-$125 region, I will start to buy back what i sold off.
Portfolio
Using the sales proceed from Alibaba, I have bought (i) Keppel REIT and (ii) PRIME US REIT.
Previously, I wrote why I would not buy Keppel REIT. However since then, it has fallen 7% post ex-dividend and become a fair value/hold at 81 SG cents. As I have said, the true dividend of Keppel REIT is 5 SG cents and with rental reversion and interest rate being lower, it can go up to maybe 5.3 SG cents. This translates to a 6.5% yield. Many of Keppel REIT properties are in prime areas and buildings are of the Trophy-Grade A status. So i do believe in the flight to quality story and the resiliency of its tenants.
On the assumption the REIT is a 5 SG cents yielder and if it becomes a 5% prospective yielder at $1, I will sell.
PRIME US REIT is another addition and I do not need to repeat why I think it is a buy.
Dividend
Unitedhampshire REIT and Asian Pay TV Trust has announced dividend within expectations and are of good yield. However, as they will pay it in March 2025, I will not count in this post.
So dividend collected this year has remained at $0.
The portfolio now has a value of about $827,000.
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