Insiders are currently favouring defensive plays such as utilities and REITs.
One example is Granite Real Estate Investment Trust, which has held its ground in the face of market volatility.
Although we saw some profit-taking as the REIT climbed to a 52-week high of $57.68 in September, insiders have been buying again following a pullback. In fact, chief executive Kevan Gorrie and chief financial officer Ilias Konstantopoulos have spent a combined $324,175 picking up units in the public market since the beginning of November.
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.