Bought 90,000 shares of Sasseur REIT on 1 Feb at $0.64.
Similar to Keppel Corp (link) and First REIT (link), this is for short term too.
Reasons for buying:
1) Stock is oversold and at 52w low
Alot of bad reviews regard to Sasseur REIT when it launch its IPO at $0.80 (PB 1.03x) in Mar 2018. I will not purchase it too during IPO due to many unknowns and uncertainly if Sasseur REIT is able to deliver on the performance. Given it is priced at PB 1.03x, there is no safety of margin and worst, the price is 0.03x premium.
BUT things are diff now given the price had dropped to $0.64 (PB 0.83x).
2) Performance Beat Forecast
Sasseur REIT had released 2 quarters of their results.
3) Close to 10% dividend (Estimated)
Sasseur had declared 3Q DPU of 1.542cents/share.
As they paid dividend semi-yearly, the 4Q result will be