Please correct me if i am wrong, not all REITs have the same weight in the XPJ, and i am not quite sure if all of them are included in it! Consequently, if few of the big REITs underperformed the rest of the sector that might give us a flat XPJ, but still most REITs (in terms of number of companies, not how big they are)have reached new highs during the last few weeks.
With all due respect to yourself and to PortfolioPlus, i dont think FKP is being capped. If you look at the chart and the trading volume of the last 16 sessions, the trading volume never exceeded 6m. I would call it capped if we have big trading volume and the share price is kept unchanged. By the way todays trading volume is 1.3 millions only (probably this is the quiet before the storm).
Most REITs had to do massively dilutive capital raisings at a very cheap price, not only FKP. Some had to do two capital raisings within less than 12 months like GMG and GPT.
One more thing, i have good reasons to believe that most of FKP holders are long termers (hence the low trading volume), so to make the share price go up, you dont really need a lot of cash unlke the more active shares like GMG or GPT or MGR. Day traders are the ones who create volatility, not long termers. As such, the fact that FKP has 1.1bn shares is true but irrelevant in this particular instant.
FKP Price at posting:
59.4¢ Sentiment: Buy Disclosure: Held
