Decided to complete the series by looking at the 5 years dividend trend of the REITs that I hold. You can read the first two parts of this series on my income and growth counters at the following links.

Income Counters’ Dividend 5 Years Trend

Growth Counters’ Dividend 5 Years Trend

As seen from the above images, the dividend growth rate of the REITs that I own pales when compared to that from my income and growth counters’. That is not unexpected as they pay out 90% of their income and larger growth in the past typically come from acquisition of new properties. With current macro environment, it has become even harder for REITs to grow and hence they have come under pressure in recent quarters.

Having said that they do offer quite a nice yield currently if they can sustain their dividend going forward.

With the exception of Parkwaylife, my cost yield is the same of lower than the current yield. Again, this shows how much Reits have lost favour over the past two years. Despite this, I still think there is a place for REITs in my portfolio. At the time of writing, they occupy about 32% of my equities portfolio which is within my planned allocation range.