Global Undervalued Small Caps With Insider Buying

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$995.6m

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario.

Sagicor Financial

Market Cap: CA$1.1b

Provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States.

A.G. BARR

Market Cap: UK£763.1m

Manufactures, distributes, and sells soft drinks and cocktail solutions in the United Kingdom and internationally.

Peoples Bancorp

Market Cap: US$1.1b

Operates as the financial holding company for Peoples Bank that provides commercial and consumer banking products and services.

Dicker Data

Market Cap: AU$1.6b

Engages in the wholesale distribution of computer hardware, software, and related products for corporate and commercial markets in Australia and New Zealand.

Bytes Technology Group

Market Cap: UK£977.3m

Offers software, security, AI, and cloud services in the United Kingdom, Europe, and internationally.

GEN Restaurant Group

Market Cap: US$109.6m

Operates restaurants in the United States.

S&T Bancorp

Market Cap: US$1.5b

Operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services to consumer, commercial, and small business in Pennsylvania and Ohio.

Thryv Holdings

Market Cap: US$606.3m

Provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States.

Shore Bancshares

Market Cap: US$561.1m

Operates as a bank holding company for the Shore United Bank, N.A.

PCB Bancorp

Market Cap: US$318.7m

Operates as the bank holding company for PCB Bank that provides various banking products and services to small and middle market businesses and individuals.

BWP Trust

Market Cap: AU$2.6b

Established and listed on the Australian Securities Exchange (‘ASX’) in 1998, BWP Trust (‘BWP’ or ‘the Trust’) is a real estate investment trust investing in and managing commercial properties throughout Australia.

Avia Avian

Market Cap: Rp25.6t

Manufactures and distributes paints and building materials in Indonesia.

Bank Danamon Indonesia

Market Cap: Rp25.2t

Provides banking services for retail, small and medium enterprises (SMEs), and corporate customers in Indonesia.

East West Banking

Market Cap: ₱27.0b

Operates as a commercial bank that provides a range of financial products and services to individual and corporate clients in the Philippines and internationally.

Daiwa House Logistics Trust

Market Cap: S$391.9m

Daiwa House Logistics Trust (“DHLT”) is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia.

Citizens & Northern

Market Cap: US$317.9m

Operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers.

Angel Oak Mortgage REIT

Market Cap: US$232.2m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

First United

Market Cap: US$238.0m

Operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals in the United States.

Hemisphere Energy

Market Cap: CA$187.5m

Acquires, explores, develops, and produces petroleum and natural gas properties in Canada.

Industrial Logistics Properties Trust

Market Cap: US$406.6m

ILPT is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties.

GDI Integrated Facility Services

Market Cap: CA$643.2m

Operates in the outsourced facility services industry in Canada and the United States.

CVS Group

Market Cap: UK£926.9m

Engages in veterinary, pet crematoria, online pharmacy, and retail businesses.

Farmland Partners

Market Cap: US$492.3m

An internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets.

Tilray Brands

Market Cap: US$1.3b

A lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, the Middle East, Africa, and internationally.

Butler National

Market Cap: US$108.3m

Designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.

Spear Reit

Market Cap: R3.3b

Spear REIT Limited (“Spear”) listed as a Real Estate Investment Trust (“REIT”) on the main board of the Johannesburg Stock Exchange (“JSE”) and is the only regionally-focused REIT listed on the JSE that predominantly invests in high-quality income-generating assets in the Western Cape.

Pebblebrook Hotel Trust

Market Cap: US$1.3b

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States.

Oxford Instruments

Market Cap: UK£1.1b

Oxford Instruments plc provide scientific technology products and services for academic and commercial organizations in the United Kingdom and internationally.

Kitwave Group

Market Cap: UK£192.6m

Engages in the food and drink wholesale business in the United Kingdom.

Hudson Pacific Properties

Market Cap: US$1.0b

A real estate investment trust, or REIT, and the sole general partner of our operating partnership.

Nyab

Market Cap: SEK 5.0b

Provides engineering, construction, and maintenance services to energy, infrastructure, and industrial construction projects for public and private sectors in Finland and Sweden.

Granite Ridge Resources

Market Cap: US$752.0m

Operates as a non-operated oil and natural gas exploration and production company.

Bank of Valletta

Market Cap: €1.2b

Provides banking, financial, investment, and other products and services in Malta.

Build King Holdings

Market Cap: HK$1.5b

An investment holding company, engages in the building construction and civil engineering works in Hong Kong and the People's Republic of China.

Embassy Bancorp

Market Cap: US$130.0m

Operates as the bank holding company for the Embassy Bank for the Lehigh Valley that provides various banking and related financial products and services to individual, business, and government customers in Pennsylvania.