Tuesday, July 20, 2010

Portfolio changes - Sold CapitaMall Trust

Sold 2000 shares of CapitaMall Trust at $1.99 today, yield has fallen to about 4.5%, not insignificant given the low interest rate environment, but still lower than the yields on other REITs (6%-10%). While we continue to think that CapitaMall Trust is unparalleled in terms of both asset quality and management strength, we see limited upside to the stock at this juncture and would look to invest the proceeds from the sale in a higher-yielding REIT or Trust.  

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