I have sold First REIT last week and M1 Limited yesterday. This is mainly a technical call as i look to pick them up at cheaper price.
There is no change in the fundamentals. I might be wrong with my decision on First REIT but recent events have shown that First REIT can be really defensive.
As for M1 Limited, price is on a high side. I don’t buy the analyst call that they will do a special distribution and at 6.5-7% yield, i think the smart choice is to sell and buy back lower if possible.