The beautiful thing about REIT's which a lot of market particpants may not be aware of, is the capital deployment process for retail and funds can be fairly delayed.
REIT's are not widely held by insto money, expect for passive flows. Companies like Charter Hall, Centuria etc take applications which take at least a few days to process before they are deployed in the market. The same goes for managed funds which are very few and far between now in Australia. The REIT market has been largely ignored for the last 2 years. Thinly traded and retail has had next to no interest.
In other words, there is probably going to be a good week of momentum while active money plays catch up with getting orders into the REIT market. If we get more positive reads on inflation this is going to turn into a very explosive momentum trade.
Im positioned very heavily across both REITS and the Fund managers themselves over the last few days.
MGR Price at posting:
$2.02 Sentiment: Buy Disclosure: Held
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