I have been watching IREIT for quite a while now after it hogged the headlines of having a massive rights issue which would allow for the properties it owned to increase by 100%, basically twice the initial size when it IPO-ed in late 2014. Gearing has increased to an uncomfortable 43.7%, and total number of units have increased, thereby increasing the liquidity of the units traded in the market. As a new investor, we should not be so worried about the dilutive effects of the rights issue, nor how much units would be added to the market. Instead, what we need to check is the theoretical ex-rights price (TERP) after the rights issue to have a rough gauge of what the price should correct to after the capital action, and from there work out a safer point of entry. Gearing and the new book value stays relevant, and of ......