Gmt

[Beagle]

You might find that there are a few holders whose purchase price is less than the current NTA, and for whom their average purchase price is still lower than NTA even after participating in the SPP.

Of course there are...so they should just keep holding even though the shares are at a massive premium to NTA now and get a whopping 2.98% ?
Industrial REIT's have definitely been flavour of the year for quite some time now. If one looks at a five year chart they have been steadily rising from $1.10 five years ago to about $1.50 in January 2019. The dramatic steepening of the ascent in the chart, (up nearly 50% since January) is a very strong response to the perceived safety of an industrial REIT in very uncertain times.
We have seen a similar response in 2019 from some of the quality gentailiers like MEL.
All I am suggesting is this is quite a "crowded position" and many investors have taken a view that they need to go really defensive with their portfolio allocation. This has served them extremely well this year but Trump, (who is a power crazed pure narcissist with questionable mental health in my opinion), is desperate to get elected again and I think he will move heaven and earth to do some sort of trade deal with the Chinese soon. What happens to these "flavour of 2019" risk off stocks if its risk on in 2020 ?

Back to a more rational slight premium to NTA like $1.70 ?