One real estate investment trust has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
The stock is purchased by three or more insiders within one month.
The stock is sold by no insiders in the month of intensive purchasing.
At least two purchasers increase their holdings by more than 10%.
North American Residential Real Estate Investment Trust (TSX:MRG.UN) is an unincorporated, open-ended real estate investment trust which owns, through a limited partnership, interests in a portfolio of 14 Canadian residential apartment communities, located in Alberta and Ontario, and 30 U.S. low-rise and mid-rise, garden-style apartment communities located in Alabama, Colorado, Florida, Georgia, Louisiana, North Carolina and Texas consisting of 12,850 residential suites.
Hot Gold Stocks To Invest In 2014
Insider Buying During the Last 30 Days
Paul Miatello purchased 2,783 shares on Sept. 13 and currently holds 7,783 shares or less than 0.1% of the company. Paul Miatello is the chief financial officer at Morguard Corporation (TSX:MRC). Paul Miatello increased his holdings by 55.7% in September.Bruce Robertson purchased 9,600 shares on Sept. 12 and currently holds 76,100 shares or 0.3% of the company. Bruce Robertson serves as a director of the company. Bruce Robertson increased his holdings by 14.4% in September.Rai Sahi purchased 10,000 shares on Sept. 20 and currently controls 235,000 shares or 0.8% of the company. Rai Sahi is chairman and chief executive officer of Morguard Corporation. Rai Sahi increased his holdings by 4.4% in September.Insider Buying by Calendar Month
Here is a table of Morguard North American REIT's insider-trading activity by calendar month.
| Month | Insider buying / shares | Insider selling / shares |
| September 2013 | 22,383 | 0 |
| August 2013 | 26,500 | 0 |
| July 2013 | 43,000 | 0 |
| June 2013 | 0 | 0 |
| May 2013 | 0 | 0 |
| April 2013 | 0 | 0 |
There have been 91,883 shares purchased, and there have been zero shares sold by insiders since April 2013.
Financials
Morguard North American REIT reported the second-quarter financial results on July 31 with the following highlights:
| Revenue | $34.7 million |
| Funds from operations | $8.2 million |
| Cash | $8.9 million |
| Debt | $930.4 million |
| Book value | $16.87 per share |
Competition
Morguard North American REIT's competitors include True North Apartment Real Estate Investment Trust (TSX:TN.UN), and Boardwalk Real Estate Investment Trust (TSX:BEI.UN).
Here is a table of these competitors' insider-trading activities during the last six months.
| Company | Insider buying / shares | Insider selling / shares |
| TN.UN | 443,150 | 0 |
| BEI.UN | 19,218 | 14,166 |
Only Morguard North American REIT has seen intensive insider buying during the last 30 days.
Conclusion
There have been three different insiders buying North American REIT and there have not been any insiders selling North American REIT during the last 30 days. Two of these three insiders increased their holdings by more than 10%.
Morguard North American REIT has a book value of $16.87 per share and the stock has a dividend yield of 6.4%. I believe the stock could be a good pick below the book value of $16.87 per share based on the intens! ive insid! er buying.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
No comments:
Post a Comment