Aims Capital REIT

Aims Capital REIT: SCB note that AMP Capital has reduced its stake in AIMS-AMP Capital Industrial Trust to 5.01% from 14.30% to recycle capital free float increases to $540m but a further reduction in AMP's stake could be negative, in house view. AMP's management involvement has been instrumental in portfolio redevelopment and asset enhancement initiatives and AAREIT offers 8.0% YE March 2013 DPU yield and maintain Outperform rating with $1.62 TP.