Today we revisit Morguard North American Residential REIT which we featured in early May. Since our report, REITs have been moving in close sympathy with the bond market and Morguard North American is no exception. It climbed to a 52-week high in mid-August but has since backtracked as investors fret about higher U.S. interest rates. It would appear that CEO Rai Sahi views the latest pullback as an opportunity. On September 16, he purchased 105,200 units at $10.08. VP Angela Sahi also bought 6,000 units.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.