Tomorrow will see the release of quarterly results for AIMS AMP Capital Industrial REIT. As if in anticipation of a good set of numbers, its unit price pushed higher today on higher volume, closing at $1.00.
Last month, I accumulated units of the REIT at 93.5c, 94c and 95c. Why did I buy? At those prices, the REIT was very undervalued. Indeed, I was waiting to accumulate at 92c too but the lowest it went to was 92.5c. I blogged about it: here.
Today, my overnight sell order at 99c was filled, locking in some gains. I believe the REIT is still undervalued and I sold not because of valuation concerns. Then, why did I sell?
I sold because I want to rebalance my portfolio. With the acquisitions I made last month, the REIT's weight in my portfolio has tipped somewhat. Also, technically, $1.00 seems to be the ......