Tan bought 4.43 million CREIT shares over six trading days from Sept. 18 to 25 at P2.83 to P2.89 apiece, increasing his holdings by nearly 60 percent.
The buying comes with CREIT down more than 19 percent since the start of the year, as higher interest rates and rising bond yields make dividend-paying REITs less attractive to some investors.
Tan is bargain hunting as the renewable energy landlord booked P916 million in first-half revenue and P686 million in net income, while keeping its quarterly dividend unchanged at P0.049 per share.
Its properties also remained fully occupied, with leases having an average 19 years remaining, giving CREIT a long stream of contracted rent.
—Edited by Miguel R. Camus
