Stock Trades: Sold WestFire Energy (TSE:WFE), Bought Artis REIT (TSE:AX.UN)
Today, with a heavy heart, I sold my 1000 shares of WestFire Energy at $5.77 in my HELOC account.
In at $4.99, out at $5.77, profit = +15.23% after commissions.
I also bought 300 shares of Artis REIT at $13.38 in my HELOC account.
Stock Trade Commentary
It is with a lot of sadness that I sold my WFE shares today for +15% profits after a 2 week holding period. I totally believe WFE will be going over $6 in the very near future and my plan originally was to hold it for at least +20% profits. What forced me to sell was the appearance of an opportunity in real estate.
Real Estate? Yes, I know its shocking! I decided to invest in a real estate investment trust, my first step into diversification. I have been watching a bunch of REITS and today the opportunity appeared with Artis as they announced a financing at $13.45 for acquisition purposes. The share price dropped so I though I would pick up some units at a discount (shouldve done that 2 months ago!) for the long term. The trust invests in a diversified portfolio of income producing office, retail and industrial properties located in western Canada. So its pretty diversified and this is the first step towards diversification in my HELOC portfolio by replacing winners with dividend payers.
So far, I have missed the REIT train this year and most of them are trading at or near 52 year high levels. I am hoping Artis will be a good hold as they continue to grow and pay an 8% dividend which should contribute to paying the interest + principle on my HELOC.
Why didnt I just hold onto WFE? That is because my margin on my borrowed money sky rocketed ( sounds like extreme sports!). As much as I believe in WFE, risk has to be managed because I do not know how the market will be acting tomorrow or the day after. As usual, after I sell a stock the price keeps going up. So I wouldnt be surprised to see $6 by the end of the week just to rub my nose. Now I need to spend a couple of minutes in silence and mourn WFE”?may we meet again, soon!
Are you a shareholder of Artis REIT? Which REIT do you think is still a good bang for the buck?