I added 4,000 shares of Mapletree Commercial Trust (SGX:N2IU) at $1.78 today after upping my initial bid at $1.76 which was unfilled for 2 weeks. I am keen to get this deal done before XD for the clean-up distribution next week.
I will now own 15,000 shares of MCT, positioning for the new era after merger with MNACT to become the third largest Reit in Singapore and top 10 largest Reit in Asia.
Even though MCT will no longer be a pure Singapore Greater Southern Waterfront commercial property asset play, its dividend yield should at least remain steady, if not grow after the merger and continue to play an income producing role for investors.
Today's high interest rate environment will not last forever. The FED will hike interest rates this year until there are signs of inflation slowdown and onset of economic recession which will probably induce the FED to stop raising interest rates and perhaps slowly reduce back the interest rates in 2023 or 2024.
I believe that MCT will continue to suffer in terms of price weakness and volatility in the short-term but in the long run of next decade or so, it will definitely thrive and its share price will slowly climb back above $2.
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