Shares: 570
Predicted annual dividend income: £28.50
March has been a busy month again. Less than a fortnight in and I have added three new positions to my portfolio: Amlin, Babcock and this one.
"Which one?" I hear you call. The newest is the real estate investment trust (REIT), Hansteen Holdings (LON:HSTN). With a market cap of about £780 million it sits nicely in the FTSE 250 index.
I have been watching Hansteen for some time. Sadly, I was attracted away from investing in them when they were trading for between 100p and 105p for a long time.
Sometimes that happens. I'd rather be overly patient than overly rash.
Hansteen--like many property investment companies--has a pretty simple business model. Buy property, manage it and distribute rental profits to investors. Excellent.
Hansteen in particular targets industrial units. It looks to buy them when they have lower occupancy rates. Manage them and seek to fill the rental space. Then when the occupancy rates are higher they often look to sell them on at a profit before doing a "wash, rinse, repeat" job.
The simplicity of this is very comforting.
