Before adding a REIT to my portfolio, I run through the same short checklist every time — not because it's exhaustive, but because it's kept me out of a few mistakes.
Dividend yield alone tells you almost nothing. I look at the gearing ratio, the quality and diversity of the underlying assets, and whether distributions have actually been stable through at least one down cycle, not just the good years.
None of this guarantees anything. It just means I'm buying with my eyes open instead of chasing a headline yield number.
