Monday’s Insider Report: Executive chair invests over $4-million in REIT yielding over 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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company's shares or units. Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.

Listed below are three securities that have had recent buying activity reported by insiders.

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

Between May 13 and May 15, executive chairman of the board Mitchell Goldhar bought a total of 222,700 units at an average price per unit of roughly $18.35 for an account in which he has indirect ownership (SC Financial Investments Inc.), increasing this account’s holdings to 1,750,578 units. The cost of these purchases exceeded $4-million.

The REIT pays its unitholders a monthly distribution of 15.417 cents per unit or roughly $1.85 per unit yearly, equating to a current annualized yield of over 9 per cent.

SNC-Lavalin Group Inc. (SNC-T)

On May 13, Mary-Ann Bell, who sits on the board of directors, purchased 5,000 shares at a cost per share of $19.986, increasing this particular account’s holdings to 10,000 shares. The cost of this investment totaled approximately $100,000.

TELUS Corporation (T-T)

On May 15, Tom Flynn invested over $226,000 in shares of the company. He acquired 10,000 shares at a price per share of $22.6359.

Mr. Flynn is the Chief Financial Officer of BMO Financial Group and is on TELUS’ board of directors.

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Listed below is a security that has had selling activity reported by an insider.

Wheaton Precious Metals Corp. (WPM-T)

Between May 11 and May 13, Patrick Drouin, senior vice-president – investor relations, exercised his options, receiving 75,000 shares at a cost per share of $23.26, and sold 75,000 shares at an average price per share of approximately $59.76. Net proceeds, excluding trading fees, totaled over $1.7-million.