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.
Listed below is a security that has had recent buying activity in the public market reported by an insider.
H&R Real Estate Investment Trust (HR.UN-T)
On Jan. 5, executive vice-president of corporate development Robyn Kestenberg invested approximately $266,000 in units of H&R, not including trading fees. She bought 20,000 units at an average price per unit of $13.295 for initiating a position in an account of which she has control or direction over.
The REIT currently pays its unitholders a monthly distribution of 5.75 cents per unit, or 69 cents per unit yearly, equating to a current annualized yield of 5.3 per cent.
As at Sept. 30, the AFFO (adjusted funds from operations) payout ratio for the first nine months of 2021 stood at a conservative 54 per cent.
In a Nov. 15 news release, it announced distributions going forward. The REIT said: “Upon completion of the spin-off, the combined annual distributions of H&R REIT and Primaris are anticipated to equal $0.72, up 4.3 per cent from the current $0.69 per H&R unit. H&R is anticipated to distribute $0.52 per annum while Primaris is anticipated to distribute $0.20 per Primaris unit (assuming that one Primaris unit is issued for every H&R unit in the Spin-Off).”
On Oct. 27, management announced a strategic repositioning aimed at reducing H&R’s retail exposure to 19 per cent from 31 per cent, and cutting its office exposure to 24 per cent from 39 per cent. On Dec. 31, this reorganization was completed with assets spun-off to Primaris Real Estate Investment Trust (PMZ.UN-T). On Jan. 5, units of Primaris REIT began trading on the Toronto Stock Exchange.
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Listed below are three stocks that have had recent selling activity in the public market reported by insiders.
Canadian Natural Resources Ltd. (CNQ-T)
Multiple management executives have been recent sellers in the public market.
On Jan. 7, Troy Andersen, senior vice-president – Canadian Conventional Field Operations, exercised his options, receiving 28,500 shares at a cost per share of $37.09, and sold 28,500 shares at a price per share of $58.3366, eliminating his position from this specific account. Net proceeds totaled over $605,000, not including any associated transaction charges.
On Jan. 6, Scott Stauth, chief operating officer – Oil Sands, exercised his options, receiving 50,000 shares at an average cost per share of approximately $44.61, and sold 50,000 shares at a price per share of $57.8205, leaving 49,221 shares in this specific account. Net proceeds exceeded $660,000, not including any associated transaction charges.
On Jan. 4, president Tim McKay exercised his options, receiving 45,000 shares at a cost per share of $43.99, and sold 45,000 shares at a price per share of $55.2739 with 1,180,395 shares remaining in this particular account. Net proceeds exceeded $507,000, excluding any associated transaction fees.
MEG Energy Corp. (MEG-T)
On Jan. 4, chief financial officer Eric Toews sold a total of 19,700 shares at a price per share of $12.66 for two accounts, after which both of these specific accounts did not hold any shares. Proceeds from the sales totaled just under $250,000, excluding trading fees.
Stantec Inc. (STN-T)
On Jan. 4, director Bob Gomes exercised his options, receiving a total of 16,700 shares at a cost per share of $32.01, and sold 16,700 shares at an average price per share of approximately $69.93 with 155,752 shares remaining in this specific account. Net proceeds exceeded $633,000, not including any associated transaction fees.
In 2017, Mr. Gomes retired from his position as the company’s president and chief executive officer.
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Jennifer Dowty