In the last few years, I have stayed positive on S-REITs and reaped the benefits. In a blog post just a few months ago, I said that I was no longer as positive about S-REITs but I had not turned negative on them either. Instead, I was quite simply cautious about S-REITs as investments for income. See: Never lose money in real estate or REITs? To recapt, at that time, AIMS AMP Capital Industrial REIT was trading at $1.46 a unit and Sabana REIT was trading at $1.12 a unit. Fundamentally, if nothing has changed in the businesses of these REITs from then to now, if I was cautious then, I would still be cautious now. This is why I have not added to my long positions even as prices retreated from the highs of $1.88 for AIMS AMP Capital Industrial REIT and $1.385 for Sabana REIT. I am ......