REITS business model really got value creation ? NOT REALLY.

Assuming I invested RM10 in REITS.

1. It pays dividend from 90% profits. eg RM0.30. The share price reduced by RM0.30. So zero gain.

2. For expansion and take overs, issue rights. After issue, more shares but the share price is diluted. So zero gain.

3. Share price increase just the market transacting price. It could work the reverse way.