Queued and sold MIT at $1.195 today, giving about a 25% profit after accounting for dividends.
Sold as it’s approaching resistance at 1.20 and I’m betting that the downside risk is much more than the upside potential at current prices. Hence, decided to take profit off the table.
At $1.20 MIT’s yield is at 6%, commensurate with A-REIT but with higher gearing. Thus I think MIT has gone a tad over-valued.
There are better deals out there and I will be looking to put some capital into other counters should their prices fall and value emerge.