Stock Commentary

Quick notes on Filinvest REIT, MREIT

Merkado Barkada

September 10, 2021 | 9:27am

Quick notes on Filinvest REIT [FILRT 7.26 unch] and MREIT [MREIT pre-IPO]: FILRT announced yesterday that today would be the final day of potential activity for its stability fund. MB readers will remember that the fund was created with a lifespan of about 163 million shares or 30 calendar days, and it appears as though the fund will reach its expiry date without having done any real heavy lifting whatsoever.

The fund bought 327,000 shares on FILRT’s IPO day for an average price of P6.96/share (P0.04 below FILRT’s offer price), and then never did anything ever again because the price has been green ever since those brief moments on April 12. As for MREIT, its Pricing Day came and went without an announcement on the REIT’s offer price. This doesn’t mean that a decision hasn’t been made and communicated to certain stakeholders, and we’ll probably hear about MREIT’s price sometime today.

MB BOTTOM-LINE

I’ve had quite a few Barkadans write in with their takes on what they think the revised MREIT price will be, and I’ll be sure to let everyone know who was closest (if they’ll let me). Most predictions are in the P16.50 to P17.00/share range, with the lowest being P15.00 and the highest being a confident “no change”.

That’s stone cold! As for FILRT, the next scheduled liquidity event is going to be the release of Filinvest Land’s [FLI 1.10 0.90%] 693 million shares that are held in the 180-day lockup. That lockup ends on February 8. That doesn’t mean that FLI will come hard out of the gate and dump millions of FILRT shares into the market, but just something to keep in mind if you’re a REIT voyeur or FILRT investor.

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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.