The Canadian REITs we’ve identified have seen insider buying recently
SmallCapPower | June 3, 2020: Insiders are defined as company management or individuals or institutions that own more than 10% of a company’s shares. Most Canadian Real Estate Investment Trusts (REITs) have struggled following the COVID-19 lockdown, as there’s a perception that less office space will be needed in the future and many brick-and-mortar retailers could be forced to close permanently as more people choose to social distance and shop online. Today, however, we have found three Canadian REITs that have seen recent insider buying, a sign of confidence in the company’s business prospects.
*Returns are based on closing stock prices as of June 1, 2020
Plaza Retail Real Estate Investment Trust (TSX:PLZ.UN) – $3.02
Plaza Retail REIT is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza’s portfolio at March 31, 2020, includes interests in 272 properties totaling approximately 8.4 million square feet across Canada and additional lands held for development. Plaza’s portfolio consists largely of open-air centres and stand-alone small box retail outlets and is predominantly occupied by national tenants. Between May 20 and May 29, 2020, Company CEO Michael Zakuta acquired a total of 80,000 units at an average price of about $2.91 per unit.
- One-Month Return: 3.4% (Excluding dividends)
CT Real Estate Investment Trust (TSX:CRT.UN) – $13.19
CT Real Estate is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio is comprised of over 350 properties totalling approximately 28 million square feet, leased primarily to Canadian Tire Corporation. On May 21, 2020, CFO Lesley Gibson purchased 8,000 units at a cost of $12.70 per unit.
- One-Month Return: 7.2% (Excluding dividends)
WPT Industrial Real Estate Investment Trust (TSX:WIR.UN) – $16.68
WPT Industrial Real Estate is an unincorporated, open-ended real estate investment trust, which acquires, develops, and manages industrial properties located in the United States, with a particular focus on warehouse and distribution properties. WPT Industrial, LP (the REIT’s operating subsidiary) indirectly owns a portfolio of properties across 20 states in the United States, consisting of approximately 31.8 million square feet of gross leasable area, comprised of 100 industrial properties. On May 20, 2020, Stuart Smith, who sits on the board of trustees, bought 10,000 units at a cost per unit of $11.28.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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