As previously planned, I rounded up my Realty Income REIT position to even number with a purchase of additional 19 shares bought for 62,87 USD per share. REIT sector in general has felt the impact of raising interest rates so in general I consider this as decent time for rotating back towards the sector. Realty Income itself is not exceptional bargain – it rarely is – but valuation appears to be relatively reasonable and something that justifies this maintenance purchase type of transaction.
Small maintenance purchase as planned with 50 shares or Nordea Bank Abp bought for 10,35 EUR per share. Nothing special here as Nordea appears to be very reasonably valued. One could argue that market is trying to tell something with that valuation. Central banks are significant drivers here and overall impact of the their actions can be catastrophic for banking sector as well. That remains to be seen. I might still make few similar maintenance purchases in coming months but might also skip those. On top of those I’ll probably add on Realty Income just to even out the total share count and then focus on pharmaceuticals as I planned before.
Slept over it and decided to go ahead with doubling my Fortum exposure with a purchase of 300 shares bought for 12,06 EUR per share. I still have somewhat mixed feelings about this and usually that spells trouble but let’s see how this goes. This pretty much finalises my summer campaign and I’ll focus on restoring my reserves during the coming months. In practice I’ll probably focus on minor maintenance purchases (likely Nordea Bank) and reinvesting dividends (pharmaceuticals and possibly some REITs).
Slightly unplanned but bought additional 30 shares of Sampo Plc for 38,99 EUR per share. Share price has declined for a while now and slightly negative guidance update from Topdanmark. On top of this there’s the Mandatum spinoff which probably has impact on multiple shareholders not so interested in becoming direct Mandatum shareholders.
Slight change of plans. Instead of slowly adding on both of these with smaller purchases, I bought additional 150 shares of Fortum for 12,18 EUR per share and additional 80 shares of Nordea Bank for 9,8 EUR per share. This was mainly because of holiday season and re-evaluation of the market situation in general. Increasing inflow of fresh capital from reserves appears to be justified right now especially with European equities. My Nordea Bank exposure is already on higher side so that might get just smaller maintenance purchases going forward. For Fortum I had envisioned capping the total exposure at 300 shares where I’m now at with this purchase. I’m considering doubling that to 600 shares but still have somewhat mixed feelings about this.