I couldn't agree more. I took some profits off two REITs I hold in the middle of last year. Made some money, and avoided some later trouble as rates rose. But I don't like to sell out completely when I am happy to hold a stock.
I bought ALL in 2020 for the first time at $25.00. I've been buying recently in the low $30s. It's going to $50, no question. The "when" part is the difficult bit! I have no idea that. It could be this year. Could be 2025 or 2026. If/when earnings continue to grow as they have been in the past, $50 is an easy reach, with or without PE multiple expansion.
I like your thinking... Keep topping up at lower levels, become over-weight in a conviction hold. Sell a good portion for part-profit and take the win while it's on offer, while expecting it to go higher. Have some dry powder to buy back at lower levels if the share price falls. Conservative and sensible.
I won't be selling any ALL below $40.00. It still looks cheap to me. I am very happy to hold this stock.
ALL Price at posting:
$36.50 Sentiment: Buy Disclosure: Held
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