Religare Health Trust's (RHT) latest results missed expectations but yesterday's massive decline in its unit price was surprising and, I thought, excessive. The sale of a 51% stake in FHTL impacted RHT's income. Distributing the proceeds as a special dividend also meant that its NAV per unit declined to 83.8c. DPU for the quarter ended 31 Dec 16 was 1.25c, a big year on year decline of almost 31% but most of it should be expected because of a reduced contribution from FHTL. Without accounting for this, however, DPU would still have reduced by a few percentage points (i.e. pretending that RHT did not sell a 51% stake in FHTL). Trying to figure out how much is a reasonable price to pay for RHT, I referred to my long time healthcare REIT investment, First REIT. At $1.27 per unit, First REIT offered a distribution yield of about 6.7%......