Monday’s Insider Report: Board chair invests another $3-million in this REIT yielding 9%

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 reported by an insider.

SmartCentres Real Estate Investment Trust (SRU-UN-T)

Between Aug. 31 and Sept. 2, executive chair of the board Mitchell Goldhar acquired 191,900 units at an average price per unit of roughly $20.48 for an account in which he has indirect ownership (SC Financial Investments Inc.), increasing this particular account’s holdings to 2,131,178 units. The cost of these purchases totaled over $3.9-million.

Previously, we reported that between Aug. 24 and Aug. 26, Mitchell Goldhar invested over $3.8-million in units of this REIT. He purchased a total of 188,300 units at an average cost per unit of approximately $20.44 for this account (SC Financial Investments Inc.).

The REIT pays its unitholders a monthly distribution of 15.417 cents per trust unit, or $1.85 per unit yearly, equating to a current annualized yield of approximately 8.9 per cent.

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

Canadian Utilities Ltd. (CU-T)

On Sept. 8 and Sept. 9, Robert Booth, a director since 2008, divested a total of 16,277 shares in the public market at an average price per share or roughly $32.93 for two accounts in which he has indirect ownership. Proceeds from the sales totaled over $536,000, not including commission charges.

Dollarama Inc. (DOL-T)

On Sept. 8, John Assaly, vice-president – global procurement, sold 9,354 shares at a price per share of $48.87, eliminating his position in this particular account. Proceeds from the sale exceeded $457,000, excluding trading fees.

Innergex Renewable Energy Inc. (INE-T)

On Sept. 9, director Ross Beaty sold 1.1-million shares at a price per share of $21.70 for an account in which he has control or direction over (Sitka Foundation), reducing this account’s position to 1,349,327 shares. Proceeds from the sale, not including commission charges, totaled over $23-million.

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