The seemingly never-ending European crisis has kept the Bank of Canada from raising interest rates so far this year. Low rates have helped to support the interest rate-sensitive REIT group. At Canadian Apartment Properties REIT insiders show no signs of jumping off the bandwagon. On May 15, chairman Michael Stein bought 10,000 units at an average price of $22.94. Two days later the CFO bought 500 units at $22.86. In addition, last week three insiders including Mr. Stein bought units in a prospectus offering at $22.75.
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.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Infographic: Insiders buying at CAP REIT