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Inside the Market Tuesday’s Insider Report: Board member is buying this security yielding 5.5% with a payout ratio of 78%

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.

Great Canadian Gaming Corp. (GC-T)

On May 9, John Russo, general counsel and chief privacy officer and corporate secretary, acquired 1,000 shares at a cost per share of $43.41 taking his account balance up to 1,100 shares. The cost of this purchase exceeded $43,000.

RioCan Real Estate Investment Trust (REI.UN-T)

On May 9, Jane Marshall, who sits on the board of trustees and is the former chief operating officer of Choice Properties REIT, invested over $90,000 in units of this REIT. She purchased 3,500 units at a cost per unit of $25.87, increasing her account’s holdings to 16,475 units.

RioCan offers its investors a monthly distribution of 12 cents per unit, equating to an annualized yield of 5.5 per cent. The FFO (funds from operations) payout ratio was 77.9 per cent in 2018 and the ACFO (adjusted cash flow from operations) payout ratio stood at 85.7 per cent in 2018. The FFO payout ratio was 77.9 per cent in the first quarter.

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

EXFO Inc. (EXF-T)

On May 3, Stephen Bull, vice-president of research and development, sold 10,000 shares at an average price per share of approximately $6.07, trimming his portfolio’s holdings to 38,549 shares. Gross proceeds from the sale totaled over $60,000.

Stella-Jones Inc. (SJ-T)

On May 6, George Bunze, who sits on the board of directors, divested 2,500 shares at a price per share of $45.33, reducing his account balance to 8,500 shares. Gross proceeds from this sale exceeded $113,000.

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