Yield is at 6.19% which miss my 8% yield criteria by a lot. Price-to-book ratio is at 1.319 which means we are buying at 32% premium for this portfolio of properties. I don't know whether anyone is in the right mind to pay so much more for a property. Gearing is at 37.8% which is still healthy.
First REIT was my anchor investment many years back and they have helped me and my portfolio grow. Having said that, I believe that it is no longer attractive. With the yield and price-to-book ratio both not hitting my criteria (and way beyond), I believe that the price is no longer resilient and I am not going to invest in it.