Directors at Hibernia Reit have spent more than €300,000 purchasing shares in the property group, which is trading back close to its IPO price.
Kevin Nowlan and Frank Kenny both acquired 100,000 shares on Friday, paying €103,000 and €107,370 respectively.
Sean Dwyer and Frank O'Neill, meanwhile, bought 50,000 and 48,000 shares apiece, spending €51,000 and €49,955 respectively.
Hibernia is the country’s largest listed commercial real estate investment trust with €1.4 billion of assets focused on the IFSC, South Docks and Dublin city centre.
The share purchases come as Cantor Fitzgerald senior analyst Darren McKinley noted the group is currently under-priced particularly given Dublin is likely to continue to benefit from companies relocating from London due to Brexit.
“Even if you mark the assets down by 20 per cent they are still worth €1.15 billion. Currently trading back close to its IPO price [it] offers a forward dividend yield of 4 per cent backed by a contracted rental yield of 7 per cent.
Hibernia raised €372 million from a stock market flotation in December 2013.
Mr McKinley noted that Green Reit was acquired by Henderson Park at 5.2 per cent yield, and with other interested parties also bidding for it.
“Looks solid taking a medium term view,” Mr McKinley said of Hibernia.