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 insider buying activity.
Cominar Real Estate Investment Trust (CUF.UN-T)
Between May 21 and May 24, Zachary George acquired a total of 432,600 units across four accounts at a cost per unit of approximately $12.02. The total cost of his purchases exceeded $5.2-million. In Jan. 2019, Mr. George was appointed to the board of trustees.
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 5.9 per cent.
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Listed below are three securities that have had recent selling activity reported by insiders.
Brookfield Asset Management Inc. (BAM.A-T)
Between May 21 and May 23, chief executive officer of Brookfield Renewable Partners Sachin Shah sold 120,000 shares at an average price per share of approximately $62.92, leaving 225,789 shares in this portfolio. Net proceeds, excluding brokerage fees, exceeded $7.5-million.
Emera Inc. (EMA-T)
On May 23, Wayne O’Connor, executive vice-president – business development and strategy, exercised his options, receiving 24,550 shares at an average cost per share of $41.72, and sold 24,550 shares at a price per share of $51.6146, leaving 4,373 shares in this portfolio. Net proceeds, excluding brokerage fees, exceeded $242,000.
On May 22, chief legal and compliance officer Bruce Marchand exercised his options, receiving 12,000 shares at a cost per share of $32.35, and sold 12,000 shares at a price per share of $51.58 with 3,584 shares remaining in his account. Net proceeds, not including commission charges, totaled over $230,000.
RioCan Real Estate Investment Trust (REI.UN-T)
On May 24, Jeff Ross, senior vice-president – leasing and tenant coordination, exercised his options, receiving 135,000 units at an average cost per unit of approximately $21.67, and sold 135,000 units at an average price per unit of $26.63. Net proceeds, excluding brokerage fees, totaled roughly $669,000. After these transactions, the remaining account balance stood at 57,282 units.
Between May 21 and May 23, chief executive officer Edward Sonshine exercised his options, receiving 100,000 units at an average cost per unit of $23.78. He sold 100,000 units at a price per unit of $26.46, leaving 97,180 units in his account. Net proceeds from the sale, excluding commission fees, totaled $268,000.
Jennifer Dowty