REITS, Holding It Versus Buy Low Sell High

I always wonder if a holding a REIT is better or selling when the profit is  hit 3 years of dividend or more, that is profit is 3x the yield. The same question also pop up in InvestingNote, especially when prices has been going up all time high with current yield dropping below 5%. In this post, I will try to plot out and compare the difference in gain for Holding vs. Buy low sell high (BLSH).

Fun Fact
Just before the GFC, CMT was trading at $3.5 with a yield of about 3.8%, CMT current yield is 4.8%, high but not crazy high yet. During GFC, CMT issue 9 for 10 rights, which mean when adjusted for the rights, CMT is now worth $4.52 pre-crsis.

Mapletree North Asia Commercial Trust  
Buy Criteria: 7% Yield
Sell Criteria: 3 years worth of dividend from Gain

Ascendas Hospitality Trust  
Buy Criteria: 7% Yield
Sell Criteria: 3 years worth of dividend from Gain

CapitaR China Trust
Buy Criteria: 7% Yield
Sell Criteria: 3 years worth of dividend from Gain

Capitamall Trust
Buy Criteria:Close to 6% Yield
Sell Criteria: 3 years worth of dividend from Gain

Mapletree Commercial Trust  
Buy Criteria: 6.5% Yield
Sell Criteria: 3 years worth of dividend from Gain

Conclusion
No one Reit is the same, investor's reaction to the price differ as well. Comparison show that one is better off holding AHT and CMT as the difference is minimal and CMT is definately a HOLD rather and BLSH. The comparison is base on hindsight so there are rooms for error in executing as well as broker's fees. 

For MNACT, there is a substantial gap in gains. 90% vs 112%, BLSH is the winner. 

MCT show a unique situation. The price never come down low enough to reach 6% yield  and rebound at 5.9% after selling off in 2016. LOL, if one stick to the TP, he would have missed the boat since 2016. However, he will be rewarded handsomely if he did catch in at the low. gain will turn out to be 120% vs 48.8% total gain. It's tought to be right all the time.

So in conclusion, It is better off to hold on to your REIT unless there is a better investment (Just sold FLT for First Riet) or when the price is so high that the yield has reached GFC level of below 4% yield.Human nature, even with the comparison proof that holding is the better strategy , I am still tempted to sell! the immediate gratification! I need to find a way stop my hand from the sell button!