One S&P/ASX 300 Index (ASX: XKO) insider seemingly couldn't go past snapping up more shares in their embattled company earlier this week.
Rural Funds Group (ASX: RFF) managing director David Bryant indirectly purchased close to $1 million worth of shares in the real estate investment trust (REIT) on Monday.
At the time of writing, the Rural Funds share price is $2.59. That's 1.15% lower than its previous close and 17% lower than it was at the start of 2022.
For context, the ASX 300 is lifting 0.27% today but has slumped 10% year to date.
Let's take a closer look at the ASX 300 insider's latest investment.
Image source: Getty Images
ASX 300 boss snaps up nearly $1m worth of shares
The Rural Funds share price has underperformed the ASX 300 by 7% so far this year, but that hasn't deterred one of the company's directors from snapping up its shares.
David Bryant seemingly took advantage of the stock's recent weakness, indirectly buying 389,000 shares on the market earlier this week for close to $2.57 apiece.
The transaction was worth approximately $998,400 in total and left the Rural Funds boss with 16.7 million shares in the company.
Bryant established the REIT 25 years ago and has continued to lead it since.
The company manages a $1.5 billion portfolio of 68 Australian agricultural properties cultivating all kinds of commodities from almonds and macadamias to poultry and cattle.
Its property revenue lifted 10% to nearly $74 million in financial year 2022 while its dividends rose 4% to 11.73 cents per share. That leaves the company trading with a 4.5% dividend yield right now.
This week's purchase marks the third time Bryant has upped stake investment in the company this year.
He indirectly snapped up 188,000 shares for $2.77 apiece on 22 February and another 185,000 stocks for $2.68 apiece on 24 February.
And while the REIT has underperformed the ASX 300 so far this year, its longer-term performance is far more optimistic.
The Rural Funds share price has fallen 2% to the ASX 300's 8% tumble over the past 12 months.
Looking even further back, the stock has gained 19% over the last five years while the index has lifted 21%.
