First REIT
I used to owned FR and during October when it plunge to 50 cents, I actually bought more of it. I calculate the worst scenario of 4 maturing 2021 hospitals' fees being halved and felt 50 Cents will be a steal. My Average price is about 72 cents.
When Lippo announce unilaterally that they are doing restructing of all the hospitals, and price plunging, I do not have the luxury of time to re-calculate everything although I do remember DPU could well be Halved if all hospitals are reviewed and using a 10% yield as an estimate of fair value, I thought it can go to 40 cents, so I simply sold off all my holdings then for a small profit.
After the Restructing exercise is announced, I bought back at 44 cents, believing it offer good "value". Given I intent to do it in 3 tranches and 44 cents is my first shot, I am not overly concerned with the daily price movements, there and then....