This will be a quick update on some of the recent actions.
A few Reits took a beating towards the end of the closing market today and I took the opportunity to add to my existing position by adding 7,000 shares of FCT at a price of $1.93 (5,000 shares) and $1.91 (2,000 shares). The share price closed a few bids lower thereafter.
I had previously added/written a few articles on the company below this year:
My objective in accumulating this Reit is pretty simple.
The Reit owns a few suburban shopping malls which in my opinion provides a clear catalyst to move forward in the short to mid term. Both the Woodland Regional Hub and Yishun Integrated Hub are part of the near term catalyst which will spur the development forward in years to come.
|Woodland Regional Hub
|Yishun Integrated Transport Hub
FCT is slated to face an operating rental pressure from the AEI of their Northpoint malls as occupancy dipped in the short term so this might push the share price lower. Should that happens, I’ll be almost certain to add to my position further.
The other risks would be pertaining to the further rate hike which will increase borrowing costs for all companies with debts. This has become almost like a broken recorded repeated over and over again.
In the meantime, I’ll be waiting for their next quarterly results with great anticipation.
*Vested with 25,000 shares of FCT and in accumulation mode