True North Commercial Real Estate Investment Trust (TSE:TNT.UN) shareholders (or potential shareholders) will be happy to see that the President, Daniel Drimmer, recently bought a whopping CA$4.2m worth of stock, at a price of CA$5.26. Not only is that a big swing, but it increased their holding size by 16%, which is definitely great to see.
True North Commercial Real Estate Investment Trust Insider Transactions Over The Last Year
In fact, the recent purchase by Daniel Drimmer was the biggest purchase of True North Commercial Real Estate Investment Trust shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, even at a higher price than the current share price (being CA$4.57). It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Happily, we note that in the last year insiders paid CA$9.1m for 1.51m shares. But they sold 25000 shares for CA$182k. In total, True North Commercial Real Estate Investment Trust insiders bought more than they sold over the last year. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 6.7% of True North Commercial Real Estate Investment Trust shares, worth about CA$26m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About True North Commercial Real Estate Investment Trust Insiders?
It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. When combined with notable insider ownership, these factors suggest True North Commercial Real Estate Investment Trust insiders are well aligned, and that they may think the share price is too low. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Case in point: We've spotted 4 warning signs for True North Commercial Real Estate Investment Trust you should be aware of.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at email@example.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
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