John Lim Hwee Chiang bought his first million shares in Suntec REIT ($1.63, up 4 cents) at $1.59 each. This will likely boost confidence in the stock which is currently amongst the top pick of most analysts who cover the REIT sector, reflecting positive effect from their asset enhancement initiatives (done in the past 2 years) over the next few years. Consensus expects 2014 and 2015 dividend to be boosted by 10-11% to 10 cents and 11 cents respectively, giving a forward and prospective yield of 6.1% and 6.7% respectively. We would accumulate the stock on price weakness.
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