My choice for a quality REIT pick -for high income and possible appreciation.

New choice on a high quality, highest dividend established REIT pick with a long track record.  For high income seeking investors.

As we see the Thai SET is recovering, blew right through the 1200 resistance point and while hesitating yesterday likes the change of BOT Governor. (see my BKK Post letter to the editor today, July 23 '25 as my last article here).

Today I want to bring to your investor attention AIMIRT (9.60), this is a very high quality large(st) property fund which got listed in January of 2018 at 10, and then traded well above 10 Baht per unit for a long time...its oversold at current mkt. price, while trading at 0.77 of its book value. Currently has 791.5 mill. units outstanding.  At the current price of 9.65 it yields over 8.2% in yearly dividends, but with regular a quarterly distribution.

The level of interest rates in Thailand is likely on a downward trend (not least due to new BOT Governor), and so should be getting some deserved attention at some point.  I reviewed its 2024 annual report which is as complete as it is impressive....this REIT is "cold storage", and various industrial so well diversified both by industry and geography.  It has a solid and alert conservative mgt team (some ex-Ticon) and I believe it is the highest yielding besides the biggest one in its sector!  Also some minor insider buying of late.  AIMIRT has at first view low trading liquidity as most REIT's do here,  but this is very deceiving as it has a strong "invisible hand", because any drop in unit price would gear-up its current yield close to 9% which is close to inconceivable.  

Its big shareholder list is an impressive "whose who" among Thai institutional investors, like the Govt. Savings bank and Thai Social Security etc.  see here:   https://www.set.or.th/en/market/product/stock/quote/AIMIRT/major-shareholders

Just for proper disclosure one minor possible negative to some is in year 2021 AIMIRT had a Rights Offering but then excluded from this some 6 different Foreign to Thai nationality shareholders (yes US citizens as well), only because of over-conservative legal worries here i.e. in not issuing a proper prospectus to these non-Thai's.  Much of a stretch, as foreigners whom live here and have a Thai address should not/never be excluded and I have made a big fuss about this in the past!  If for some odd reason this happens again, affected foreign unit holders can just sell out well before the XR date.

Foreigners have to own only the non-NVDR units but then have the broker convert them to Foreign units, so to receive the Quarterly dividends!  One can sign the reverse form then as well, at the same time, so if one wants to sell the (F) units, the broker can instantly convert them back to non-NVDR units.  I expect the next Q. dividend to be around 0.14 Baht XD end of August and paid by September 8-10 -or so.  Realize these dividends can and do fluctuate depending on profits some...an interim Q. dividend is often a bit less but with the full year one paid in May at I estimate as in the past right around 0.28.   AIMIRT has a stated dividend policy on paying out 90%, of it yearly net profit.   One can see its long/solid dividend record at this link:

https://www.set.or.th/en/market/product/stock/quote/AIMIRT/rights-benefits

Best Regards,