The following counters have been promoted to the next Tier.
|Mapletree Industrial Trust||Platinum|
Mapletree Industrial Trust (MINT) became the fourth counter after iFAST, Micro-Mechanics and Parkwaylife to enter the highest tier. Since my first purchase in January 2018, the counter has provided a steady performance. Despite the pandemic, its DPU compounded at 2.2% over the past 3 years.
“I increased my REIT exposure by initiating a position in Mapletree Logistic Trust (MLT) at $1.38 and Mapletree Industrial Trust (MINT) at $2.12 after they have announced an increase of their dividend for Q1. The purchase price is definitely not cheap but I am satisfied with the current yield of ~5.5%.”
As I searched my entries, I found what I wrote in January 2018. Wow, satisfied with 5.5%! I would be very happy with 5.5% now.
MINT got into the next tier mainly due to the recent Preferential Offer (PO). Prices at $2.64, it offers a discount of about 4% to 6% to the trading price in late May and early June. It’s a good deal, so I decided to apply for additional 5300 shares in excess of my allocated 700 shares.
|Counter||Quantity||Buy/Sell Price||Current Price||P/L|
|Frasers Centrepoint Trust||4000||$2.27||$2.41||-$560|
|Mapletree Commercial Trust||4000||$2.04||$2.14||-$400|
|Mapletree Industrial Trust||2200||$2.64||$2.79||$330|
A small mis-step in this is trimming Frasers Centrepoint Trust and Mapletree Commercial Trust too early to fund this. I only received 2200 out of 6000 shares applied from the PO exercise, so “net loss” from this particular set of actions results is $630. Nonetheless, I think this will turn out fine eventually as I expect stronger performance from MINT for the next few years.
I wanted to add a bit more shares in the open market but its price has stayed pretty resilient over the past few days. So decided to hold on a while. It does mean that the counter will miss the 50k mark for Platinum tier by about 10%. However, with the intention of adding more when the price is more favourable, I am comfortable with it being this tier.
First bought at US$250 in May 2018, I have numerous buys and sells (8 buys, 4 sells) for Arista Networks (ANET) as I struggled between my like of its strong leadership and my dislike of my poor understanding on the technicality of its business. ANET was a fast grower as it disrupted CISCO network business but hit a speed bump over the past few years as its Titan customers reduced their orders. However, they seem to have turned the corner in the latest quarter and growth while not as high as before, is expected to resume.
With the strong price appreciation in June, Fiverr (FVRR) is promoted to the Silver tier. First purchase was in November 2019 at US$23 and averaged up for 3 more times, with the latest purchase on 1 June at US$201. At the current price of US$227, it’s already a 10-bagger for my first purchase but based on my average price of US$88, it is up only by 160%. I continue to believe that FVRR still has a long runway to grow, so will be holding on to my current stake and might add more when opportunity arises.
Other Minor Transactions
Made some minor transactions for my Unknown counters. Divested Kinsale, Invitae and Magnite completely for a total gain of about $2k. The sales proceeds is used to beef up my holdings in Docusign, Fastly, Fiverr, Globant, Redfin and Veeva. I also initiated a position in Zillow Group.