Mapletree Logistic Trust has been my favourite counter all these years. It has been constantly providing me with decent dividends and steady capital appreciation. I was fortunate to have been able to purchase 5 lots of it at $0.71 per share. Since then, the share price has been steadily appreciating. Even its dividend payout has also been steadily improving, providing great returns for all shareholders due to the continuous efforts of the management of the Trust to find value and enhance the portfolio of the assets in the Trust.
Hence, when the management announced preferential offerings to existing shareholders to raise funds, I made no hesitation to buy all that I could, and even more to make up a complete lot at $0.815 per share.
However, things took a turn in March 2011 when triple whammy hit Japan, with the earthquake, tsunami and nuclear crisis. As a substantial number of Mapletree Logistics Trust's assets were in Japan, though only a few were in the affected areas, it resulted in a momentary panic sale. As a ill-disciplined investor, I jumped into the bandwagon as well to sell half of my holdings. The share price took a dip further, and my fears overcome my logical thinking, so instead of adding more of this counters when the price is low, I stayed away from it, fearing further decline.
Within a span of 2 weeks, the share price took a roundabout and shoot up again. Having missed the bottom, I could only get more of it at a price near my previous selling price. This time, I made the decision to buy more that what I sold previously, increasing my total holdings to 9 lots. I never regret this decision, in fact, I wondered why I did not buy more, as it has been proven time and time again the defensive nature of this counter and efforts of the management to add value to this Trust made it a high yielding counter.
This year, the share price started to hovered above $0.90 for a long period of time. Having holding on to this counter for more than 2.5 years, I decided to be disciplined and follow my initial plan to sell my holdings if the fundamentals have changed or if it hits a new high of $1.00 per share. Fundamentals were still intact. In fact, I do not see any pressing issue for me to sell. However, as I have always told myself to stick to my plan, and to move on, I shall learn with this counter. Therefore I made up my mind to sell all my holdings in this counter when it hits $1.00 per share, and it did.
Thoughts at that time: As Mapletree Logistics Trust has become one of my favourite counters, I am very reluctant to sell it, as the thought of losing the consistent dividend yield after the sale makes me lose a substantial part of my dividend income. Nonetheless, with a total capital appreciation of approximately 27% and an accumulated dividend yield of approximately 15%, I am very satisfied with the performance of this counter.
Lessons learnt: As long as I stick to my plan, I won't feel much sadness even if the share price continue its climb upwards, and no regrets if the share price suddenly took a turn and plunge, because I am sticking to my plan.
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