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The Globe and Mail

CAP REIT chair buys even as financial shares rise

The iShares Financials (XFN) and iShares Real Estate Investment Trusts (XRE) exchange traded funds have been flirting with 52-week highs. Meanwhile, our financials insider indicator suggests corporate executives feel it is a better time to sell stock in the sector than to buy. During the past two months, there were about two financial stocks in Canada with executive sell-only filings for every one with buy-only filings.

Canadian Apartment Properties REIT stands out as one of the companies with buying instead of profit-taking. On March 3, board chair Michael Stein bought 25,504 units in the public market at $13.99. Generally speaking, when there is significant insider buying after a stock has risen, it is often worth noting. It could signal that opportunity may still exist, despite recent price gains.

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.

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