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Keppel DC Reits have performed extremely well this year, with the YTD reaching approximately 48%. As REITs are income play, I generally set a target annual yied of 6%. Last year, I trimmed my exposure to First REITs when its sponsor was facing liquidity issues and decided to re-deploy the sales proceeds to other REITs. Kepple DC REITs was one of the candidates which experienced price correction amidst equity fundraising. At the price of 1.35 level, the annual yield was below my preferred yield threshold. I invested but managed it by controling my exposure, despite being confident that the REIT has long-term growth potentials. This position has become my satellite investment that is looking for capital appreciation. In the hindsight, it was the right decision.
If I had stuck with my own yield criteria, I would not have made this investment. In general, people should maximize the total return instead of annual yields. It is easier said than done.