MREITs up on defensive play

We have seen many MREITS up in the last few weeks.  We believe is more like a defensive play by funds.  Qcapita, UOAREIT, IGBREIT, TWREIT, ARREIT all staged close to 10% gain.  Of course another reason can be the standard dividend payoff in February each year. 

However, most are trading far from its NTAB.  An example like TWREIT which disposed one of the building lately.  Pushing it’s NTAB to above RM 1.90.  However due to low yield and unexciting market sentiment.  It is not at RM 1.30.

We believe MREITs are less attractive in term of yield.  However there are  certain MREITs trading massively big gap between market price and their NTAB worth taking note.  We will buy in small amount targeting these MREITs in the next few month.

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