While overall insider sentiment on the TSX is upbeat, the subdued mood in the financial sector remains a worrying exception. Therefore, it is encouraging when we see insider buying in financial stocks, however modest the amounts may be. Today we highlight some bargain hunting in the real estate investment trust area which is a sub-group of the financial sector.
On May 26, Artis AX.UN-T director Del Crewson bought 1,500 units in the public market between the prices of $11.27 and $11.29. We also note that in March, two officers bought a combined total of 3,600 units in the public market at prices ranging from $11.33 to $11.49.
The Western Canada-focused commercial REIT currently sports about a 9.5-per-cent prospective yield.
Disclaimer:
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. Investments profiled are from a recent edition of the Morning INK report which is distributed daily to subscribers and clients of select financial institutions. INK staff may hold shares in profiled securities.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
