Sales
Link Reit: Increase my position. Purchase price is $36.50 before ex-dividend. Dividend yield is around 7.x%
I bought too early, as the share price dropped to $33.x after ex-dividend. Nonetheless, Link Reit has solid management whose incentives are aligned with shareholders.
Interactive Brokers (IBKR): Sold whole position in two batches at $170 and $192. I felt that the valuation at these prices are too high. At $192, it's trading at 30x PE and 5x book.
Will look to buy back IBKR at around 3.5x book.
Oiltek: Sold half of my position at $0.66, which is around 15x PE based on its 1H 2024 results.
I sold too early, as share price rose to above $1 after it announced great 3Q 2024 earnings.
Currently, it trades at around $0.88.
Purchases
Sketchers: Bought a small stake at $60, as my sold put options on it expired and was exercised.
Subsequently, I sold Dec put options at $57.50 on it. I don't mind adding at $57.50 share price.
Currently, it's trading around $62.
Thoughts on CapitaLand Integrated Commerial Trust (CICT)
I looked at CICT recently.
CICT bought 50% Orchard ION for $1.1 billion at 2.7% net yield. Thereafter, it sold Collyer Quay property at $688 million at below 3.5% yield.
While Orchard ION is of higher quality at Collyer Quay, this seems that the management is buying high and selling low at the expenses of increasing AUM (asset under management).
Given the above, I decided CICT is not for me, as the management's incentives seems not aligned with the shareholders'.
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