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Inside the Market Thursday’s Insider Report: Insider invests over $19-million in this security yielding 6%

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.

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Listed below are two securities that have had recent insider buying activity.

Cominar Real Estate Investment Trust (CUF.UN-T)

Between Jan. 2 and Jan. 7, Zachary George acquired a total of 1,604,800 units across two accounts in which he has control or direction over at an average price per unit of approximately $11.86. The total cost of these purchases amounted to over $19-million. Mr. George was appointed to the board of trustees on Jan. 2, 2019.

On Jan. 3, René Tremblay invested over $248,000 in units of Cominar. He bought 21,500 units at a cost per unit of $11.57, initiating a portfolio position. On Mar. 8, 2018, Mr. Tremblay joined the board of trustees.

Cominar is the second largest diversified REIT in Canada with a portfolio of 429 properties. The REIT pays its unitholders a monthly distribution of 6 cents per unit, or 72 cents per unit yearly, equating to a current annualized yield of 6 per cent.

Tricon Capital Group Inc. (TCN-T)

On Jan. 4, Kevin Baldridge, president- Tricon American Homes, invested over $171,000 in shares of the company. He purchased 17,267 shares at a cost per share of $9.94, increasing his portfolio’s position to 58,438 shares.

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Listed below are three stocks that have had recent selling activity reported by insiders.

Emera Inc. (EMA-T)

On Jan. 3, former chief executive officer Chris Huskilson sold 46,000 shares at a price per share of $43.40. The previous day, he divested 23,000 shares at a price per share of $43.728. After these two transactions, his account held 77,565 shares. Proceeds from these sales totaled approximately $3-million.

Linamar Corp. (LNR-T)

On Jan. 7, Mark Stoddart, chief technology officer and executive vice-president of sales and marketing, divested 22,000 shares at a price per share of $46.377 for an account in which he has indirect ownership with 677,017 shares remaining in the account. Proceeds from the sale amounted to over $1-million.

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On Jan. 4, senior officer Brian Wade sold 3,260 shares at a price per share of $45.0744, leaving 864 shares in his account. Proceeds from the sale totaled over $146,000.

Seabridge Gold Inc. (SEA-T)

On Jan. 4, chairman and chief executive officer Rudi Fronk exercised his options, receiving 250,000 shares, and sold 175,000 shares at a price per share of U.S.$13.20 with 1,045,000 shares remaining in his account. Proceeds from the sale amounted to over U.S.$2.3-million.

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