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Alison Carnwath last Friday invested just shy of £1m in Land Securities (LAND, 1580p). Carnwath (bio) has held the position of non exec director since April 2004, and this appears to be her first major purchase in that time.
Previous insiders buying Lands shares have included Myners (non exec Chairman), Ellis (Executive Director) and Salway (CEO), who all bought back in July last year, at prices only about 10% higher than today.
The real estate sector is up about 11% since its low in mid November, when we started to comment on directors buys in the sector, whereas the FT All Share index has fallen by 4%.
If you look at the ratio of net activity in the sector, net buys (above £50k) number 26 companies in the sector now, versus net sells (above £50k) only four, taken over the last three months. This in itself remains a pretty strong signal to stay invested in the real estate sector.
