We are keeping a close eye on insiders in real estate investment trusts in light of rising bond rates. Canadian 10-year bond yields have jumped over the past month and now hover at around 2 per cent. As bond market volatility rises, some notable insider selling is surfacing. For example, on May 14, Edward Sonshine, CEO of RioCan Real Estate Investment Trust, sold 100,000 units at $29. The next day, he exercised the same number of options at $21.26. The S&P/TSX Capped REIT Index has doubled over the past four years.
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.